Ping An Insurance (Group) Company of China Ltd. has threatened legal action over a New York Times article reporting that relatives of Chinese Premier Wen Jiabao made a fortune off shares in the insurer, which had previously lobbied Wen to save it from a government-mandated breakup.

The insurer issued a statement Monday saying that recent media coverage relating to the company contained “serious inaccuracies, facts being distorted and taken out of context, as well as flawed logic.”