Ping An Insurance 3Q Net Profit Up 46% at CNY22.89 Billion

By Joanne Chiu Features Dow Jones Newswires

Ping An Insurance (Group) Co. (2318.HK) reported a 46% rise in net profit for the third quarter on strong growth in its life insurance and asset management businesses.

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The Chinese insurer said late Friday that net profit rose to 22.89 billion yuan ($3.44 billion) from CNY15.73 billion a year ago.

Net profit for the first nine months increased 17.4% to CNY66.32 billion.

Ping An Insurance's total revenue rose 19.6% to CNY220.84 billion in the latest quarter, it said.

Write to Joanne Chiu at joanne.chiu@wsj.com

(END) Dow Jones Newswires

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October 27, 2017 05:21 ET (09:21 GMT)