CITIC-Prudential Life Insurance Co, a 50-50 joint venture between the China International Trust and Investment Corporation (CITIC) and the UK's Prudential PLC, has increased its capital to 1.45 bln yuan, the China Insurance Regulatory Commission said in a statement approving the deal.

It did not disclose the insurer's previous capital level. Following the capital increase, the partners will each maintain 50 pct in the venture, the statement said.

CITIC-Prudential's premium income in 2006 was over 1.6 bln yuan, up 52 pct year-on-year.