国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Economy

Markets

Industries

Insights

Reports

Events

Ping An Insurance 2008 net profit down 94.4%

(Xinhua)
Updated: 2009-04-09 11:08

Ping An Insurance (Group) Company of China, China's second largest insurer by market value, said Wednesday its net profit in 2008 plunged 94.4 percent from a year ago.

Related readings:  Ping An insurance premiums rise 8%  Ping An seeks govt aid for Fortis compensation  Ping An Insurance reports Q1 profit up 25.2%  Ping An's refinancing plan approved

Net profit dipped to 873 million yuan ($127.82 million) in 2008 because of rising insurance claims caused by severe natural disasters and stock market fluctuation, according to a company statement to the Hong Kong Stock Exchange.

Earnings per share dropped to 0.04 yuan in 2008, down 2.57 yuan or 98.5 percent from the 2007 level, according to the statement.

Net profit from the insurance business dropped 59.8 percent to 834 million yuan from a year earlier, as natural disasters like snow storms and earthquake last year had caused a rise in the insurance claims in life and property insurance, said the statement.

The group's investment in troubled European financial group Fortis also cut down on its profit, as Ping An took 22.8 billion yuan as provision for asset impairment on Fortis.

Ping An held 121 million Fortis shares as of Dec 31, 2008, which means the group had invested 23.87 billion yuan into the bank, said the group.

Ping An's share fell 4.42 percent to HK$48.65 in the Hong Kong stock market on Wednesday.