(Yicai Global) June 11 -- Paying out on Luckin Coffee’s insurance claim for executives facing legal action will not affect Ping An Insurance Group’s performance, the insurer said on the Shanghai Stock Exchange’s company-investor communication platform today.

Ping An is one of 11 insurers who joined hands to insure Luckin in a USD25 million policy that offers liability for executives being sued by investors for acting in a way that harms shareholders’ interests. Luckin fabricated USD2.2 billion of 2019 revenue in its latest financial report.

Ping An began said several days ago it had begun processing the coffee chain’s claim.

Editor: James Boynton