Goldman Sachs has bought a 12.02 percent stake worth more than $900 million in China's Taikang Life Insurance Co Ltd, as the U.S. banking giant looks to benefit from growing demand for insurance products in the world's second-largest economy. French insurer AXA SA said last month it agreed to sell its 15.6 percent in Taikang to a group of investors for $1.2 billion ID:nLDE72A1VY]. The company did not disclose who the other investors are. Taikang has about $44 billion in assets and 54 million clients across China. The stake purchase was approved by the China Insurance Regulatory Commission, the statement said. (Reporting by Elzio Barreto; Editing by Chris Lewis and Michael Flaherty)
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