Ping An Insurance's Tianjin exposure likely $78.2 million

Lee Yuan Siong, chief insurance business officer of Ping An Insurance Co. of China Ltd., said that the insurer's exposure to claims from the recent explosions in the country's Tianjin port is likely to reach up to 500 million Chinese yuan ($78.2 million), reported Reuters.

Mr. Siong said that the insurer has received about 100 claims from logistics firms, factories, warehouses and individual customers.

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