China's Ping An Insurance Group Becomes World's Second Largest Insurer by Market Cap
Xu Wei
/SOURCE : Yicai
China's Ping An Insurance Group Becomes World's Second Largest Insurer by Market Cap

(Yicai Global) Nov. 22 -- The A-share price and H-share price of Ping An Insurance (Group) Company of China [SHA: 601318] have both doubled since this year, which makes it the world's second largest insurer after US business magnate Warren Buffett's Berkshire Hathaway Cooperation.

Ping An's H-share price gained 8.84 percent to close at HKD86.2 (USD11.03) yesterday while the A-share price gained 3.6 percent to close at CNY78.44 (USD11.83), pushing up the insurer's market cap to about USD208 billion.

When said "The company's share price have performed quite well this year. However, I think the share price still does not fully reflect the true value of the company," said Li Yuanxiang, deputy chief executive officer and chief insurance officer of Ping An Insurance (Group) when talking about Ping An Insurance Group's valuation at the 'Ping An 2017 Investor Day' on Nov. 20.

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Keywords: MSCI , Berkshire , Share Price