21 August 2019

Ping An says 45 customers on missing Malaysian plane

Ping An Insurance (Group) Co. of China (02318.HK, 601318.CN) said Friday that 45 passengers on the Malaysian plane that has been missing for a week were insured by the company and that it is prepared to handle claims in a worst-case scenario.

China’s No. 2 insurer has set up an emergency task force to deal with potential claims, Lee Yuan Siong, senior vice president and chief insurance business officer told a Hong Kong media briefing.

He said one of those passengers is also a sales agent.

“We are watching updates by the minute,” Lee said. “We hope all the passengers and crew members are safe, [but] we are prepared for the worst.”

Malaysia Airlines flight MH370, with 238 passengers aboard, lost contact with air controllers and disappeared from radar screens on March 8.

Lee did not give an estimate of any potential claims but said these will not have any material impact on the company.

Meanwhile, chairman and chief executive Peter Ma said the company will continue to push for e-commerce and connect customers across its insurance, banking and investment segments to one another via online platforms.

– Contact the reporter at [email protected]



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