China Taiping Insurance shares fall on concerns about exposure to Hong Kong fire

China Taiping Insurance Holdings

27/11/2025 05:52

HONG KONG, Nov 27 (Reuters) - Shares in China Taiping Insurance Holdings 0966.HK dropped as much as 8% on Thursday on concerns about its potential liability exposure to a Hong Kong apartment complex where a huge fire has killed at least 44 people and left nearly 300 missing.

According to publicly available minutes of meetings of registered owners of Wang Fuk Court, members approved the continuation of insurance coverage for the housing complex with China Taiping Insurance (Hong Kong) Ltd in December 2024.

The policy period runs from January 1, 2025, to December 31, 2026, the records show.

China Taiping Insurance Holdings and its unit China Taiping Insurance (Hong Kong) did not immediately respond to Reuters requests for comment.

The tightly packed complex in the northern Tai Po district in Hong Kong has 2,000 apartments in eight blocks that are home to more than 4,600 people in a city struggling with chronic shortages of affordable housing.

China Taiping Insurance shares on Thursday dropped as much as 8.1% to the lowest level since October 24. The stock trimmed losses later to be down 1.4%, lagging a 0.3% gain in the benchmark Hang Seng Index .HIS.

State-owned China Taiping provides a host of general insurance services - from marine hull to property insurance.

(Reporting by Donny Kwok, Claire Fu, Selena Li, and Ziyi Tang; Ediitng by Sumeet Chatterjee and Lincoln Feast.)

((sumeet.chatterjee@thomsonreuters.com; +852 3462 7757;))