CHINA LIFE INSURANCE COMPANY LIMITED
By Yifan Wang
China Life Insurance Co. (China) said that its net profit for the first nine months of the year fell 18% from a year earlier despite a rise in income, as sharply higher operating expenses dragged profitability.
The insurer posted Wednesday a net profit of 47.08 billion yuan ($7.01 billion) for the January-to-September period.
Operating income grew 11% to CNY691.57 billion, driven by a 24% rise in investment income.
Premium income, China Life's major source of revenue, rose 9.4% to CNY543.55 billion.
Write to Yifan Wang at yifan.wang@wsj.com
(END) Dow Jones Newswires
10-28-20 0513ET
