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August 5, 2009

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Insurers reminded of risks in shares

INSURERS should be aware of the potential investment risks in a rising domestic stock market, an expert cautioned yesterday.

Some insurers have raised their stock portfolio as the domestic stock market has been rising, without taking into account fully the risk potential, said Andy Ng, an Ernst & Young partner in Shanghai.

"Insurers' investment returns are moving in tandem with the stock market," Ng said. "Amid the current booming market, they should be really careful about asset portfolios rather than dashing into the market blindly for quick returns."

The benchmark Shanghai Composite Index has almost doubled this year and witnessed a strong momentum since the second quarter.

The market has attracted insurers to raise their stock investment after cutting them heavily last year when stocks turned bearish.


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