No plans to seek funds
By Feng Jianmin |
March 26, 2013, Tuesday
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Print Edition
Print Edition
CHINA Pacific Insurance (Group) Co, China's third largest insurer, has no plans to raise funds to replenish capital this year after raising HK$10.4 billion (US$1.34 billion) in 2011, a senior company official said yesterday.
Although the insurer reported the solvency ratio for its property insurance sector fell 45 percentage points to 188 percent, Chairman Gao Guofu yesterday said the firm has no fund-raising plan this year.
''The HK$10.4 billion was sufficient for our business plans, and we don't need to raise more funds this year,'' Gao reiterated.
Although the insurer reported the solvency ratio for its property insurance sector fell 45 percentage points to 188 percent, Chairman Gao Guofu yesterday said the firm has no fund-raising plan this year.
''The HK$10.4 billion was sufficient for our business plans, and we don't need to raise more funds this year,'' Gao reiterated.
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