(Corrects name of PICC top executive in second paragraph)
By Kane Wu
HONG KONG, Aug 28 (Reuters) - PICC Group, parent of the China’s biggest non-life insurer, is in talks with potential targets in Southeast Asia, with deals likely executed before the end of the year, a top company executive said on Monday.
The talks with some of the targets are at an advanced stage and the company could see a couple of deals happening in 2017, Vice President Xie Yiqun said at a news conference. The deals could include stake purchases or outright takeovers, he added.
People’s Insurance Company (Group) of China (PICC) , as the company is formally called, reported half year profits of 8.82 billion yuan on Friday, compared with 7.73 billion yuan in the same period in 2016.
Reporting by Kane Wu; Writing by Elzio Barreto; Editing by Shri Navaratnam