Source AP ©

China Life 3Q profit US$1 bln

China’s largest life insurer by premiums China Life Insurance Co. announced Monday that its third-quarter net profit was 7.82 billion yuan (US$1 billion;EUR700 million).

The company said its net profit for the January-September period was 24.70 billion yuan (US$3.3 billion; EUR2.3 billion).

The company, whose yuan-denominated shares started trading on the Shanghai Stock Exchange on Jan. 9, did not provide comparative, year-earlier figures.

The company also has American Depositary Receipts traded in the U.S. and shares traded in Hong Kong.

The Basmanny Court of Moscow arrested Michael Calvey, the founder of Baring Vostok investment fund, on allegations of embezzling 2.5 billion rubles from Vostochny Bank. Calvey will be held in custody until April 13

Putin informed about arrest of US investor Michael Calvey
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