Ping An boosting overseas assets

Ping An Insurance (Group) Co, China's second-largest insurer, is boosting overseas assets as the nation's slowing economy and falling interest rates make it difficult to find investments with attractive returns at home.

The company has about 16 billion yuan ($2.5 billion) of deals abroad in the works for 2015, and expects total investments overseas to rise to as much as 50 billion yuan by year-end upon full payment, from about 33 billion yuan, Chief Investment Officer Timothy Chan said in Shanghai on Friday.

More than 10 billion yuan of the new deals are property related, including two projects in the United Kingdom and a $650 million asset-backed-securities project in the United States, he said, declining to name targets.