October 25, 2018 / 9:35 AM / 25 days ago

China Life Insurance Q3 profit down 76 pct on poor stock market returns

    SHANGHAI, Oct 25 (Reuters) - China Life Insurance Co Ltd
                     , the country's second-biggest insurer by
market value, reported on Thursday a 76 percent decline in
third-quarter net profit due to lower equity income amid a
volatile domestic stock market.
    Net profit dropped to 3.45 billion yuan ($496.52 million)
from 14.6 billion yuan in the same quarter a year earlier, China
Life said in a statement to the Hong Kong Stock Exchange.
    The insurer said its 9-month net profit dropped 26 percent
to 19.87 billion yuan from 26.8 billion yuan in the same period
a year ago.
    China Life reported 9-month premium income of around 468.5
billion yuan, a year-on-year increase of about 4 percent.
            
($1 = 6.9484 Chinese yuan renminbi)

 (Reporting by Engen Tham in SHANGHAI and Shu Zhang in BEIJING;
Editing by Darren Schuettler)
  
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