Xinhua: Insurance Industry: China Life reports more than doubled net profit in Q3
Insurance Industry: China Life reports more than doubled net profit in Q3
China Life Insurance Company Limited, the country's largest life insurer, posted a net profit of 5.95 billion yuan (586.728 million euro's) in the third quarter of this year, up 154.55 percent year on year.The company attributed the profit surge to the improvement in the country's equity market, which led to higher investment returns, it said in a report to the Shanghai Stock Exchange on Monday.China's key Shanghai stock index has gained more than 70 percent this year, boosted by a recovery of the country's economic growth. China Life said its net profit totaled 19.87 billion yuan in the first three quarters, up 51.58 percent year on year.
Labels: China Economy, Insurance Industry
