The Ping An Insurance (Group) Company of China Ltd, one of the country's largest insurance groups, has completed a 20-billion-yuan (US$2.92 billion) capital injection into its life arm Ping An Life Insurance Co, the company said in a statement to Shanghai Stock Exchange on Dec 15.

"The capital injection, passed by the general meeting of stockholders, has won the green light from the China Insurance Regulatory Commission," said the statement.

After the capital boost, Ping An Life's registered capital has jumped to 23.8 billion yuan.

(Xinhua News Agency December 15, 2008)