Insurer seeks strategic investor

China Pacific Insurance (Group), parent of the nation's third-largest life insurer, may invite foreign strategic investors to take a 25% stake in the company for as much as US$600 million, the South China Morning Post reported. The development comes as its life insurance unit, China Pacific Life Insurance, has been ordered by regulators to submit a plan to improve its badly deficient solvency margin by the end of October or face disciplinary action.