Insurers eager to invest in real estate market

People's Insurance Company of China (PICC), the nation's largest insurance conglomerate, is eyeing investment opportunities in economically affordable housing, the company's President Wu Yan said yesterday.

Several insurers are eager to make a similar move after a new law allowing it comes into effect on Oct 1.

Real estate, usually a long-term investment, is a perfect match for life insurers' long-term liabilities.