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China Life Q3 Net Profits Down 45.7 Pct To Us$591 Mln

 

Tuesday, Nov 01,2011, 8:44:55 PM   Click:

China Life Insurance (SEHK:02628; SSE:601628) announced on Thursday that its net profits dropped 45.7 per cent year on year to 3.75 billion yuan (US$590.9 million) in the third quarter of this year, due to capital market fluctuations.

The largest life insurer in China said that the capital market fluctuations had led to a decline in its investment returns and an increase in its asset impairment loss.

Its assets impairment loss soared 526.5 per cent year on year to 5.996 billion yuan by the end of September.

In the first three quarters of this year, its net profits reached 16.72 billion yuan.

By the end of September, the insurer's investment capital reached 1,423.84 billion yuan, and total investment yield reached 4.14 per cent.

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