China Life swings to profit on investment gains
HONG KONG Oct 26 (Reuters) - China Life Insurance Co Ltd swung to a third-quarter profit from a loss a year earlier due to investment gains and reduced writedowns.
Net profit reached 7.5 billion yuan ($1.23 billion) in the quarter ended September, China's biggest insurer said on Friday.
China Life booked a 2.2 billion yuan loss a year earlier as the country's wilting stock markets caused big losses on insurers' investments. ($1 = 6.0820 Chinese yuan) (Reporting By Lawrence White; Editing by Ryan Woo)
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