Chinese Insurer, Taiping Life Insurance Co., has been given approval by the China Insurance Regulatory Commission (CIRC) to set up its newest provincial branch in Hainan Province. With approval from the CIRC to open the new branch office, Taiping Life Insurance will now have 35 provincial branches throughout China. Hainan Province's insurance market brought in RMB 2.94 billion (USD 433 million) in…