China Life 2012 Net Profit Falls 40%

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.