China Life Posted 2016 Full-Year Earnings Guidance With 40%-50% Decline in Net Profit
China Life announced negative earnings guidance for full-year 2016, with shareholders' net profits falling 40%-50% from the year-ago period, which was dragged by disappointing investment returns and increased reserve charges during the year. The announcement is largely in line with our expectations. China Life traditionally demonstrated higher-than-peer sensitivity to the performance of the stock market, given its relatively higher equities investment proportion. Instead, our focus is on its sus...China Life Insurance is engaged in the writing of life insurance business and provision of life, annuities, accident and health insurance products to individuals and groups in the People's Republic of China. Co. also provides individual and group accident and short-term health insurance policies as well as services. Co.'s businesses are organized into four main segments: Individual life insurance, Group life insurance, Short-term insurance and Corporate and other business. As of Dec 31 2010, Co. had approximately 129 million individual and group life insurance policies and annuities and long-term health insurance policies in force.
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