BRIEF-Tianma Bearing Group swings to red in 2016, scraps JV plan

April 28 (Reuters) - Tianma Bearing Group Co Ltd

* Says it scraps plan to jointly set up property insurance

JV as it failed to meet requirements due to net loss in 2016

* Says it swings to net loss of 252.2 million yuan ($36.57

million) in 2016 versus net profit of 47.2 million yuan year ago

Source text in Chinese: http://bit.ly/2pssTcr;

http://bit.ly/2oP1EF5

Further company coverage:

($1 = 6.8970 Chinese yuan renminbi)

(Reporting by Hong Kong newsroom)