CATHAY Life Insurance Co, Taiwan's biggest life insurer, bought a building in Neihu Technology Park in Taipei for NT$3 billion (US$96 million), its second property investment in the city this year, it said yesterday.

Cathay Life paid NT$410,000 per ping for the headquarters of Taiwan's Gala Television Corp, the Taipei-based insurer said in a stock exchange filing through parent Cathay Financial Holding Co, Taiwan's biggest financial services company by market value, yesterday. The value per ping was a record for the Neihu district. A ping, the standard area measure for real estate in Taiwan, equals 3.3 square meters.