HONG KONG: China Life Insurance Co, the nation’s largest insurer, estimated that third quarter profit fell 60% as investment income declined.
China Life’s net profit attributable to equity holders in the first nine months of 2015 was 33.84 billion yuan (US$5.02bil), or 1.2 yuan per share, the company said in a filing with the Hong Kong Stock Exchange. China Life didn’t provide a profit figure for the third quarter. The benchmark Shanghai Composite Index has tumbled 13% so far this year, hurting the value of Chinese insurers’ stock holdings. China Life reported that its first-half profit tumbled 67% as market declines hurt investment returns.
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