China Life Insurance Co LFC reported a 40% drop in its net profit last year.
China Life's net profit for the year fell to 11.06 billion yuan ($1.78 billion), from CNY18.33 billion, in the year-ago period. However, analysts were expecting a profit of CNY13.68 billion.
Its investment income climbed to CNY80.01 billion from CNY64.82 billion, while investment yield declined to 2.79% from 3.51%.
China Life shares closed at $40.53 yesterday.
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