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Taiping Insurance Shares Hit by Over $200 Million Exposure to Hong Kong Fire
Insurance Journal· 2025-11-28 22:35
Shares of China Taiping Insurance Holdings fell as much as 8% on Thursday [Nov. 27] on concerns about its coverage exposure of more than $200 million to a Hong Kong apartment complex where a huge fire killed at least 55 people, with nearly 300 missing.The tightly packed Wang Fuk Court in the Asian financial hub’s northern district of Tai Po has 2,000 apartments across eight blocks that are home to more than 4,600 people in a city struggling with chronic shortages of affordable housing. Shares of state-owned ...