Editorial Summary

Insurance companies are on the hook for millions in compensation fees after the recent wintry weather in many parts of China. Ping An Insurance (Group) Co., of China Ltd (601318.SH; 2318.HK), China Pacific Insurance (Group) Co., Ltd (CPIC) (601601.SH) and People's Insurance Company of China (PICC) have paid out more than RMB140 million in compensation since the storms began earlier this month, report Shanghai Securities Journal. Shares of Ping An and CPIC fell 1.9 percent and 0.35 percent on Wednesday, respectively.

China Life Insurance (China Life) (601628.SH; 2628.HK; NYSE: LFC) estimates its 2007 net profit increased more than 50 percent year-on-year due to growth of its insurance business and investment returns, according to a filing with the Shanghai Stock Exchange. Net profit in 2007 is estimated to have hit RMB14.4 billion. However, shares of China Life slumped 6.06 percent to close at RMB39.23 in Shanghai on Wednesday.