Ping An Insurance annual profit jumps 40 pct, misses forecasts

HONG KONG, March 13 Thu Mar 13, 2014 8:49am EDT

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HONG KONG, March 13 (Reuters) - Ping An, China's second largest insurer by market value, posted a 40.4 percent rise in annual earnings, as investment income surged on the back of a recovery in China's stock market.

Ping An Insurance Group Co of China Ltd made a net profit of 28.15 billion yuan ($4.58 billion) in the year ended Dec. 31. That was less than the 29.4 billion yuan analysts had expected, according to Thomson Reuters data.

($1 = 6.1450 Chinese Yuan) (Reporting By Lawrence White. Editing by Jane Merriman)