PICC P&C rights issue

PICC Property and Casualty plans $783 million rights issue

China's biggest non-life insurer will need to compete for investor interest with New China Life Insurance.

PICC Property and Casualty (PICC P&C), China’s biggest non-life insurer, is joining the year-end rush to the equity market with plans for a Rmb5 billion ($783 million) rights issue in Hong Kong and the mainland to meet capital requirements.

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