The Straits Times
Published on Nov 26, 2012

China insurer eyes legal action after NYT reports on premier's family wealth


BEIJING (REUTERS) - China's second biggest insurance company has threatened to take legal action against the New York Times (NYT) for reports that Premier Wen Jiabao's relatives had accumulated massive wealth, largely through holdings in the firm.

In a written statement on Monday, Ping An Insurance (Group) Co of China Ltd said it had "noted recent media coverage related to the company, which contains serious inaccuracies, facts being distorted and taken out of context, as well as flawed logic".

It added that it "will take appropriate legal action commensurate with the damage and adverse impact the media reports have caused to the company".

Ping An did not name NYT in the statement, but a company spokesman told Reuters that it referred to an NYT article published over the weekend.