Dec 22 - Ping An Insurance Plans to Issue Bonds Worth CNY 26 Billion

Source: China Securities Journal, ChinaScope Financial (Data)

+ On December 20, Ping An Insurance (Group) Co. of China Ltd. (SSE: 601318, HK: 2318) received approval from its board members to issue a maximum of CNY 26 billion worth of A-share convertible bonds.

+ As of October 31, 2011, the solvency ratio of Ping An was 170.7%. Should all of the new bonds be converted into shares, the ratio will increase to 194.9%, reaching CNY 208.9 billion.

+ Related Data: Solvency Ratio, Refinancing, Subordinated Bonds

+ Related Companies: Ping An Insurance (Group) (SSE:601318), China Life Insurance (SSE:601628), New China Life Insurance (SSE:601336), China Pacific Insurance (Group) (SSE:601601), PICC Property and Casualty (HKEX:2328)

+ Related Sector: Insurance

Insurers: issuing subordinated bonds to raise actual capital

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