Ping An Insurance (Group), the second-biggest life insurer in China, plans to sell up to 1.15 billion A shares worth an estimated 4 billion US dollars to replenish its capital, The Standard reported. Ping An's proposed A shares represent 15.7 percent of the company's enlarged issue share capital, said the paper. The company, as well as three other mainland insurers, were given the go-ahead to invest in infrastructure projects as part of Beijing's efforts to broaden their investment options. Ping An said the issue would establish a new financing platform for the company and enable it to enhance its operations and further improve its competitiveness. Ping An last month posted a better- than-expected 83 percent leap in interim profit on the back of strong investment income. The company's Hong Kong-listed shares have surged 94 percent this year, outpacing a 31 percent gain in the index of mainland companies listed in Hong Kong.