Ping An sees over 31% drop in net profit

Chinese insurer Ping An Insurance (Group) Co. of China Ltd.'s net profit plunged 31.5% to nearly 16.2 billion Chinese yuan in the third quarter of the year, mainly due to weak investment income as a result of COVID-19 and falling capital markets, Nasdaq reported citing Reuters. Gross written premiums increased by more than 2% to nearly CNY605 billion.