Ping An Insurance reported a drop in new sales of insurance policies after it cut down the number of agents. Photo: Reuters Ping An Insurance reported a drop in new sales of insurance policies after it cut down the number of agents. Photo: Reuters
Ping An Insurance reported a drop in new sales of insurance policies after it cut down the number of agents. Photo: Reuters

Ping An’s first-half profit hit as China’s largest insurer sets aside provisions of US$5.5 billion related to troubled mainland developer

  • First-half net profit at China’s largest insurer fell 15.5 per cent to 58 billion yuan (US$8.94 billion) from 68.7 billion yuan a year ago, misses estimates
  • Insurer set aside provisions of 35.9 billion yuan for impairment losses and adjusted valuation of its investments in China Fortune Land Development

Topic |   Ping An Insurance
Ping An Insurance reported a drop in new sales of insurance policies after it cut down the number of agents. Photo: Reuters Ping An Insurance reported a drop in new sales of insurance policies after it cut down the number of agents. Photo: Reuters
Ping An Insurance reported a drop in new sales of insurance policies after it cut down the number of agents. Photo: Reuters
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