Interim reports released by Ping An Insurance, China Life Insurance, China Taiping Insurance in others in the industry showed profit growth ranging from 62.2% to 202.1% for the first half of the year, South China Morning Post reported. “The gold rush in the [mainland] stock market in the first six months has effectively pushed up companies’ revenue and profits,” said Dayton Wang, an insurance analyst at Guotai Junan International. “But I doubt they can maintain that growth momentum in a market hit by major corrections.” Wang said further rate cuts from the central bank would also make it difficult for insurers to achieve high interest and reinvestment income.
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