China Reinsurance (Group) Co said it has launched a representative office in the City of London, as part of its efforts to expand overseas.

The company will also open an office in Hong Kong soon, China Re said in a statement.

In October 2007, China Re completed a restructuring, one of the key milestones ahead of its initial public offering.

The restructured China Re has registered capital of 36.149 bln yuan, with Central Huijin, a wholly-owned subsidiary of sovereign fund China Investment Corp, and the Ministry of Finance holding 85.5 pct and 14.5 pct stakes, respectively.

The reinsurer said it will consider listing shares in both domestic and overseas stock markets after introducing a strategic investor, although it gave no timetable nor identify potential strategic investors.

China Re, which has an over 80 pct share of the country's reinsurance market, booked 2007 operating revenue of 44.466 bln yuan, up 47.8 pct.

(1 usd = 7.0 yuan)