By Hong Kong Newsroom
HONG KONG (Oct 27) -- Ping An Insurance (Group) Company of China said Friday its net profit grew 17.4% in the first nine months of 2017 from a year earlier as new business value generated by the life and health insurance business grew.
Net profit for the nine months ended Sep. 30 was 66.32 billion yuan ($9.97 billion) compared to 56.51 billion yuan over the same period last year, the company said in an exchange filing. Revenue rose 22.2% on-year to 723.98 billion yuan.
Ping An, which provides insurance, banking, asset management and internet finance products and services, said value of new business generated by the life and health insurance business grew by 35.5% year on year.
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