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PING-AN

The Wire

Chinese insurer to record $2.3B loss on Fortis

Oct 5 - By Joe McDonald, AP Business Writer

China's Ping An Insurance Co. said Monday it will record a $2.3 billion loss on its stake in troubled European bank Fortis NV, in the biggest blow yet to a Chinese institution from the global credit crisis.

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Chinese Insurer Ping an to Raise $22B

Jan 21 - By Joe McDonald, AP Business Writer

A major Chinese insurer has announced plans to raise up to $22 billion (euro15.0 billion) for acquisitions at a time when U.S. and European banks, battered by mortgage losses, want infusions of Asian capital to replenish their balance sheets.

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