HONG KONG -- Leading insurers in China have used recent earnings calls to reassure investors about their exposure to the nation's deepening property crisis, with Ping An Insurance detailing reductions in its holdings in the sector.
Ping An came under particular pressure because of its investment in Country Garden, a leading developer that reported a first-half loss of 48.9 billion yuan ($6.7 billion) after missing two interest payments on U.S. dollar-denominated bonds.
