By P.R. Venkat
Ping An Insurance (Group) Co. of China Ltd.'s net profit fell nearly 21% on year in the January-September period, as contributions from its life and health business were hurt by the Covid-19 pandemic.
Net profit fell to 103.04 billion yuan ($15.35 billion), the company said Tuesday.
Ping An Insurance revenue came in at CNY995.12 billion compared with CNY970.48 billion.
Net earned premiums were nearly unchanged at CNY588.61 billion.
The company said that its long-term-protection business remains adversely impacted by Covid-19, as domestic consumption demand is still recovering.
Write to P.R. Venkat at firstname.lastname@example.org
(END) Dow Jones Newswires