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RPT-China's Ping An Insurance Q3 profit rises 45.5 pct
October 27, 2017 / 9:33 AM / 25 days ago

RPT-China's Ping An Insurance Q3 profit rises 45.5 pct

(Repeats with no changes to text)

SHANGHAI, Oct 27 (Reuters) - Ping An Insurance Group Co of China Ltd , the country’s largest insurer by market value, said on Friday its third-quarter net profit rose 45.5 percent due to strong insurance sales.

Net profit at Ping An, the only Chinese and Asian insurer named among nine peers as global systemically-important insurers by regulators, was 22.89 billion yuan ($3.44 billion) in the quarter ended September, compared with 15.73 billion yuan the same period last year, it said in a stock market filing in Hong Kong.

Ping An raked in 313.93 billion yuan of gross premium income from life insurance in the 9-month period, up by around 36 percent from the year-ago period.

Ping An Insurance Group is the controlling shareholder of Ping An Bank, which reported a 2.7 percent rise in third-quarter net profit.

$1 = 6.6505 Chinese yuan Reporting by Engen Tham and Shu Zhang; Editing by Jacqueline Wong

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