Ping An, CPIC, China Life Stock Investment Loss Hit CNY150bn

SHANGHAI, Aug 28, 2008 (SinoCast via COMTEX) -- LFC | Quote | Chart | News | PowerRating -- The losses Ping An Insurance (Group) Company of China, Ltd. (Ping An, SHSE: 601318, and SEHK: 2318), China Pacific Insurance (Group) Co., Ltd. (CPIC and SHSE: 601601) and China Life Insurance Co., Ltd. (China Life, NYSE: LFC, SEHK: 2628, and SSE: 601628) suffered from the recession in China's stock market totaled about CNY 150 billion in the first half of 2008.

The three listed Chinese insurers reported a floating profit of about CNY 106.9 billion at the end of 2007, said Wang Xiaogang, an analyst with Orient Securities Co., Ltd. In detail, the floating profit of Ping An, CPIC and China Life stood at CNY 30.6 billion, CNY 15.6 billion and CNY 60.7 billion, respectively.

However, they booked a floating loss of CNY 41 billion for the first half of this year. And the floating loss of China Life, CPIC and Ping An reached CNY 18.4 billion, CNY 5.8 billion and CNY 16.8 billion, respectively.

From www.cnstock.com, Page 1, Wednesday, August 27, 2008 info@SinoCast.Com

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