HONG KONG -- China's top insurers saw their collective profit plunge by almost $5 billion last year as key investment income took a hit from volatile markets and the economic damage wrought by Beijing's zero-COVID policies.
Finance
China's top insurers hit by $5 billion 2022 profit drop
Key investment income sank amid market volatility and Beijing's pandemic policies
Senior China Life executives Zhan Zhong, Zhao Peng and Liu Hui (left to right) at the company's earnings announcement on March 30. (Photo by Echo Wong)
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