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China Pacific Insurance swings to loss in Q3

Oct. 29, 2012 (China Knowledge) - China Life Insurance Co Ltd<601628><2628>, the country's largest life insurance company, has said it suffered a net loss of RMB 2.21 billion in the third quarter of this year, compared with a net profit of RMB 3.75 billion it earned in the corresponding period of 2011.

According to a statement filed with Shanghai Stock Exchange, basic loss per share for the period was RMB 0.08.

In the three months ended Sep 30, 2012, the Shanghai and Hong Kong listed company realized RMB 95.24 billion in operation revenue, rose 14.85% from a year earlier.

In the first nine month of this year, the China Life Insurance saw its operation revenue hit RMB 320.5 billion, up 1.8% from a year earlier, while its net profit for the nine-month period plunged 55.6% YoY to RMB 7.43 billion.

By the end of last month, the company had RMB 1.67 trillion in investment assets.

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