Belgium cools Ping An hope for Fortis compensation

Reuters/December 1, 2008

BRUSSELS – Chinese insurer Ping An (2318.HK: Quote, Profile, Research, Stock Buzz)(601318.SS: Quote, Profile, Research, Stock Buzz) should not count on any compensation from Belgium over its losses following the state-led carve-up of financial group Fortis, according to the Belgian government.

“I understand that there is disappointment, but there are always risks bound to an investment,” Prime Minister Yves Leterme said in comments in Belgian daily De Standaard…

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