elf schreef:
SHANGHAI (MarketWatch) -- China Life Insurance Co. /quotes/comstock/13*!lfc/quotes/nls/lfc (LFC 61.25, -1.69, -2.69%) said Wednesday its first-half net profit rose 7.4% from a year earlier, as solid premium growth more than offset a decline in investment returns from the domestic stock market.
The company, China's biggest life insurer by all measures, said net profit for the six months ended June 30 was CNY18.03 billion ($2.65 billion), up from a restated net profit of CNY16.80 billion a year earlier, according to Chinese accounting standards.
The result was above the average CNY16.23 billion net profit forecast of four analysts, but the year-on-year rise may not fully reflect the company's performance due to distortions following a change in Chinese accounting standards this year that lowered provision requirements for insurance policies.