•  Submitted by 11/28/09 , Click: , Source: insurance news net

    Ping An Insurance (Group) Company of China, Ltd. (SHSE: 601318 and SEHK: 2318) began sending out redemption orders to fund managements firms and cutting stock position from last week.
    So far, funds it redeemed and stocks position it cut has reached about CNY 10 billion, of which over CNY 7 billion was achieved last week. The funds it redeemed are mainly stock-oriented ones and it has been unknown how much the proportion of capital from investment-linked insurance accounts is as such capital is always deducted by insurers in the country when they account for proportion of fund and stock investment. So, it is a tough job to forecast how much the proportion of capital the Chinese insurance giant uses for fund and stock investment has dropped. Industry observers predicted that the proportion had fallen about two percentage points.

    Top executives of the insurer said publicly that the proportion would be maintained at about ten percent this year.

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