National Council for Social Security Fund Signals Share Sell off in People’s Insurance Company of China

Posted on 07/10/2020


People’s Insurance Company of China is a mega Asian insurer. Shares of the insurance company fell 6.6% on the morning of July 10, 2020. This comes after news of China’s National Council for Social Security Fund plan to sell up to 884 million shares, or roughly a 2% stake in People’s Insurance Company of China. National Council for Social Security Fund is the second largest shareholder in the Shanghai-listed insurance company.

At June 30, 2020, National Council for Social Security Fund held a 16.5 percent stake in the insurer.

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