China Taiping Insurance Holdings Co. shares fell Thursday on concerns over the insurer’s estimated HK$2.6 billion ($334 million) exposure to a Hong Kong residential project at the center of a deadly fire.
The company’s shares fell as much as 8.1% in early trading before paring losses to less than 1% as of 1:58 p.m. in Hong Kong. China Taiping underwrote third-party liability and employee compensation for mandatory building and window inspection work at Wang Fuk Court in Tai Po.