SHANGHAI, May 15 (Reuters) - Chinese insurer PICC (Group) has 13.26 billion yuan ($1.89 billion) in potential life insurance claims in three southwestern Chinese cities, including Sichuan's provincial capital Chengdu, that were hit hard by Monday's earthquake, the official Securities Times reported on Thursday.
PICC, the parent company of PICC Property & Casualty Co, which is 9.9 percent owned by American International Group, had 52,000 life insurance policy holders in the cities of Chengdu, Deyang and Mianyang as of May 13, the paper said.
The 7.9 magnitude quake, which struck less than 100 km (60 miles) northwest of Chengdu, killed more than 14,000 and the death toll was expected to rise steeply as many thousands more were believed to be buried under mud and rubble.
($1=7.002 Yuan)
(Reporting by Edmund Klamann; Editing by Ken Wills)
Provided by Reuters
© Reuters 2008 All rights reserved
If you find an article which you feel violate your rights or the rights of others, please notify us immediately.
Share this story:Post your Comment Email Print Bookmark this page
RE: China PICC potential quake claims $1.89 bln
What is G8?
Here are some key facts on the G8.
...
Why copper prices won't down
CRU argues against copper price collapse. Here are ten reasons why...
Digg
Reddit
Mixx it
Facebook
in the U,S, for the resent loss of so many people who we wish to say shall be missed, and how we greave with such a loss of our family across the world, it is times like this that make us realize how life is so much more valuable than all of the worlds differences, and we only wish for the families
that they know their loved ones are with God and that we shall all see those who have passed to the other side, Our prayers are with you