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China Life expects drop in H1 profit

Aug. 7, 2012 (China Knowledge) - China Life Insurance Co Ltd<601628><2628>, the country's largest life insurance company, expected that its net profit attributable to shareholders to decrease sharply in the first half of this year, mainly due to a lower investment income and increased assets impairment loss.

The decrease will not exceed 29.4% it realized in the first quarter of this year, said the company.

In the first half of last year, the Chinese life insurance company realized RMB 12.96 billion in net profit attributable to shareholders with basic earnings per share of RMB 0.46.

In an earlier report, China Life Insurance said that its premium income dropped 5.17% from a year earlier to RMB 185.4 billion in the first half of this year, China Knowledge reported earlier.

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