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

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.

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

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