China Life Misses Profit Estimates as Economy Drags on Sales

(Bloomberg) — China Life Insurance Co., the nation’s largest life insurer, posted annual profit that missed estimates as an economic slowdown and a reshuffle of agents weighed on sales.

Net income rose 1.3% to 50.9 billion yuan ($8 billion), the Beijing-based insurer said Thursday in a filing with the Hong Kong stock exchange. That trailed the 57.5 billion yuan average estimate of analysts surveyed by Bloomberg.