HONG KONG Aug 25 China Life Insurance Co
(2628.HK) (LFC.N), the country's top life insurer, posted a 32
percent decrease in first-half profit on Monday but beat
forecasts, as a drop in China's equity market hurt the company's
China Life (601628.SS), which leads rival Ping An Insurance
(Group) Co (2318.HK) (601318.SS) in the mainland market, said it
earned 15.8 billion yuan ($2.3 billion) in the first half,
compared with 23.3 billion yuan in the year-earlier period.
On average, four analysts polled by Reuters expected China
Life's first-half profits to be 11.7 billion yuan.
The benchmark Shanghai Composite Index .SSEC lost 48
percent in the first half of the year amid a global market
selloff and China's tightening efforts to cool inflation.
China Life's Shanghai-listed A shares have fallen 56 percent
so far this year while its Hong Kong shares are down 31 percent,
compared with a 24 percent decrease in the benchmark Hang Seng
Index .HSI during the same period.
(Reporting by Kennix Chim, editing by )