PICC Property and Casualty sued for $325 million

China-based Jiufu Shuke Technology Group Co. Ltd. has filed a 2.3 billion Chinese yuan ($325 million) lawsuit against insurer PICC Property and Casualty Co. Ltd. for non-payment of outstanding service fees, Asia Insurance Review reports. Jiufu Shuke said that PICC did not fulfil its payment obligations under Chinese digital financial services provider 9F Inc.'s direct lending program.

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