Caixin
Jan 30, 2019 04:49 PM
FINANCE

Nation’s Biggest Life Insurer Says Profits Plunged Last Year on Weak Stock Market

Shares in China Life slumped more than 4% on Wednesday. Photo: IC
Shares in China Life slumped more than 4% on Wednesday. Photo: IC

China Life Insurance Co. Ltd. saw shares slump on Wednesday morning after it said last year's profits may have fallen as much as 70% due to weak returns on equity investments.

Shares in the insurer dropped as much as 4.32% in Shanghai after the market opened, with losses narrowing to around 1.6% by the noon break. China Life’s Hong Kong-listed shares also suffered declines, losing about 4.3% before closing down 2.28% in the morning session.

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