China’s second-largest insurer Ping An (601318.SH, 2318.HK) is looking to diversify into property and private equity and raise its holdings of Chinese stocks as investment returns remain subdued, Bloomberg reported. Deputy chief investment officer Timothy Chan said returns have been lower than last year and that it is currently the "toughest time" for the insurer. "The forecast for investment returns in 2011 looks very similar to this year’s levels," he said. Ping An’s investment holdings are mostly bonds and bank deposits which have limited returns. The company is hoping to mark gains from Beijing’s loosening of investment rules for insurers. "We will try to improve yields by adding more credit risk," Chan said.
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