Make me your Homepage
    left corner left corner
    China Daily Website

    Quake to have limited impact on insurers

    Updated: 2013-05-01 15:42
    (Xinhua)

    BEIJING - Finance analysts have said that a massive earthquake that recently jolted Southwest China is unlikely to have a significant impact on Chinese insurers, even though their stock prices tumbled following the quake.

    A 7.0-magnitude quake hit Lushan county in Southwest China's Sichuan province on April 20, leaving at least 196 people dead and more than 13,400 others injured. It also displaced nearly 300,000 people and caused widespread property damage.

    The shares of Shanghai-and Shenzhen-listed insurers took a hit in the week after the quake, with leading companies like China Ping An and China Pacific Insurance down 7 percent.

    The benchmark Shanghai composite index moved down 3 percent after the quake. The market is closed until May 2 for the May Day holiday.

    Analysts cited investor concerns about potentially large insurance payouts as a reason for the fluctuation, but maintained that the panic is unwarranted.

    The initial response from the market was only "psychological and emotional", said Peng Yulong, an analyst at Guotai Junan Securities.

    "It was largely a mental impact and it will took some time for the market to absorb it. But we do not expect it to drag on for long," wrote Chen Jiangang and Tong Nan, both analysts at Sinolink Securities.

    Insurance payouts for the quake currently total more than 10 million yuan ($1.62 million), as reported by the China Insurance Regulatory Commission (CIRC) on April 21, one day after the quake.

    Predictions for the total payout have varied substantially. GF Securities estimates the payout will be between 40 and 90 million yuan, while China Securities believes it will run up to 2 billion yuan.

    However, even a large payout would only cause limited damage to insurance companies, China Securities said. Losses would come out to about 1 percent or less of an individual company's annual profits, according to the company's research.

    The amount is insignificant compared to the 1 trillion yuan in direct economic losses that resulted from the deadly 2008 Wenchuan earthquake, which also occurred in Sichuan. Total payouts amounted to 1.66 billion yuan for the Wenchuan quake, according to CIRC.

    Previous Page 1 2 Next Page

    8.03K
     
    ...
    Hot Topics
    China launched its second space laboratory, the Tiangong II, on Thursday night, which space officials said will become the country’s largest scientific platform in space.
    ...
    ...
    久久受www免费人成_看片中文| 无码精品A∨在线观看中文| 色婷婷综合久久久久中文| 久久无码中文字幕东京热| 亚洲Av无码国产情品久久| 亚洲AV永久无码精品| 中文字幕亚洲精品资源网| 92午夜少妇极品福利无码电影| 无码AV动漫精品一区二区免费| 影音先锋中文无码一区| 久久久无码精品亚洲日韩蜜臀浪潮| 亚洲av中文无码| 日本乱中文字幕系列观看| 久久精品中文无码资源站| 日韩精品专区AV无码| 寂寞少妇做spa按摩无码| 免费人妻无码不卡中文字幕系| 亚洲av无码一区二区三区人妖 | 精品无码AV无码免费专区| 亚洲自偷自偷偷色无码中文| 中文字幕精品久久久久人妻| 最新中文字幕AV无码不卡| 亚洲无码高清在线观看| 99无码熟妇丰满人妻啪啪| 波多野42部无码喷潮在线| 中出人妻中文字幕无码 | 波多野结衣中文字幕久久| av无码播放一级毛片免费野外| 免费无码一区二区三区| 精品无码国产污污污免费网站| 亚洲AV无码成人精品区天堂| 东京热av人妻无码专区| 国产AⅤ无码专区亚洲AV| 亚洲日韩精品无码专区网址 | 亚洲av成人无码久久精品| 亚洲国产成人片在线观看无码| 永久免费av无码网站yy| 亚洲va无码专区国产乱码| 日韩精品无码一区二区中文字幕| 国产做无码视频在线观看浪潮| 国产精品亚洲а∨无码播放 |