China PICC potential quake claims $1.89 bln -paper

SHANGHAI, May 15 (Reuters) - Chinese insurer PICC (Group) has 13.26 billion yuan ($1.89 billion) in potential life insurance claims in three southwestern Chinese cities, including Sichuan's provincial capital Chengdu, that were hit hard by Monday's earthquake, the official Securities Times reported on Thursday.

PICC, the parent company of PICC Property & Casualty Co (2328.HK: Quote, Profile, Research, Stock Buzz), which is 9.9 percent owned by American International Group (AIG.N: Quote, Profile, Research, Stock Buzz), had 52,000 life insurance policy holders in the cities of Chengdu, Deyang and Mianyang as of May 13, the paper said.

The 7.9 magnitude quake, which struck less than 100 km (60 miles) northwest of Chengdu, killed more than 14,000 and the death toll was expected to rise steeply as many thousands more were believed to be buried under mud and rubble. ($1=7.002 Yuan) (Reporting by Edmund Klamann; Editing by Ken Wills)