GIC Global Industrial Company

SHANGHAI--China Pacific Insurance (Group) Co. (2601.HK, 601601.SH, CHPXY) said Monday it has gotten approval from the Chinese securities regulator to raise around 10.4 billion Hong Kong dollars ($1.34 billion) in an H-share private placement first announced in September, according to a statement on the stock exchange.

The placement will be used to increase the capital base of the company and for business development, the company said in September.

The three subscribers to the private placement offering are Singapore's sovereign wealth fund, Government of Singapore Investment Corp.; Norway's central bank, Norges Bank; and Abu Dhabi Investment Authority, the insurer said in a statement on the stock exchange.

Write to Chao Deng at chao.deng@dowjones.com