March 23, 2017 / 11:14 AM / 4 months ago

China Life Insurance 2016 profit slides 45 pct, in line with estimates

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SHANGHAI/BEIJING, March 23 (Reuters) - China Life Insurance Co Ltd reported a 45 percent fall in 2016 net profit on Thursday, in line with expectations.

China's largest insurer said net profit for the year ended December 2016 fell 45 pct to 19.13 billion yuan ($2.8 billion) from 34.7 billion yuan a year earlier.

Analysts on average were expecting the company to report net profit of 19.2 billion yuan, according to Thomson Reuters data.

Last year, Chinese insurers pulled in 3 trillion yuan of premiums, up around 28 percent from 2015, according to data from China's insurance regulator. ($1 = 6.4968 Chinese yuan) (Reporting by Engen Tham in Shanghai and Shu Zhang in Beijing; editing by David Clarke)

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