News China12 May 2017

Embattled Zheshang Insurance posts biggest loss last year

| 12 May 2017

Hangzhou-based Zheshang P&C Insurance, the victim of a multi million-dollar bond default, has reported a net loss of CNY649 million (US$94 million) for the 2016 financial year, the highest loss posted by a nonlife insurer in China last year.

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