China Life 2008 net down

China Life didn't give a net profit figure, but its net profit for 2007 was 28.1 billion yuan (4.1 billion U.S. dollars), or 0.99yuan per share.
Listed companies in China must issue unaudited statements under three conditions: if profits fall more than 50 percent, if they move from a profit to a loss, or if they expect to report a loss regardless of the previous comparable period results.
Audited 2008 annual results are due on March 26.
The profit slump mainly reflected sharp declines in domestic equity returns, tougher competition in the insurance market and increases in compensation for disaster-related claims, China Life said.