April 26, 2018 / 10:53 AM / a month ago

China Life first-quarter profit up 120 pct

SHANGHAI, April 26 (Reuters) - China Life Insurance Co , the country’s second-biggest insurer by market value, reported a 120 percent rise in first-quarter profit on Thursday.

Net profit rose to 13.52 billion yuan ($2.14 billion) in the first three months of the year, compared with 6.15 billion yuan a year earlier, China Life said.

The insurer last month reported a 69 percent surge in 2017 net profit, citing strong investment returns from stock markets. ($1 = 6.3230 Chinese yuan renminbi)

Reporting by Engen Tham in Shanghai and Shu Zhang in Beijing Editing by David Goodman

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