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New China Life Insurance expects 50% YOY fall in H1 net profit

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New China Life Insurance expects 50% YOY fall in H1 net profit

New China LifeInsurance Co. Ltd. expects its first-half net profit to fallapproximately 50% year over year.

The company said the estimated decrease in net profit forthe six months ended June 30 is primarily due to the significant decrease ininvestment income for the period and the impact of the change of discount rateassumption of reserves of traditional insurance contracts.