Nov. 30 (Bloomberg) -- Ping An Insurance (Group) Co. was set for its biggest two-day gain in more than two months in Hong Kong trading after the company said it bought a stake in Fortis, Belgium's biggest financial company.

Ping An advanced 3.2 percent to HK$85.85 in Hong Kong at 11:30 a.m., headed for its largest gain since the two days ended Sept. 20.

China's second-biggest insurer bought 4.2 percent of Fortis for 1.81 billion euros ($2.7 billion), the largest overseas acquisition by a Chinese insurance company.

The Shenzhen-based insurer bought the shares on the Brussels and Amsterdam stock exchanges, it said in a statement yesterday.

Fortis, based in Brussels and the Dutch city of Utrecht, was part of a group that bought ABN Amro Holding NV.

To contact the reporter on this story: Josephine Lau in Beijing at jlau22@bloomberg.net

Last Updated: November 29, 2007 22:39 EST