China Life Q1-Q3 net profit down 33%

BEIJING -- China Life Insurance Co Ltd, China's largest provider of life insurance, said Thursday that its net profits for the first three quarters this year dropped 33 percent year-on-year to 16.72 billion yuan ($2.63 billion).

In the third quarter alone, the company's profit declined 45.7 percent to 3.75 billion yuan, said China Life in a statement filing to the Shanghai Stock Exchange.

Earnings per share stood at 0.13 yuan in the third quarter, down 45.7 percent from a year ago, it said.

The company said the decline in profit was a result of decreasing investment returns and losses from asset impairment.

The company's total insurance premiums saw moderate growth during the first three quarters this year, rising 2.6 percent to 262.77 billion yuan. Meanwhile, total investment yield stood at 4.14 percent.

A.M. Best Downgrades Ratings of American Health and Life Insurance Company

has downgraded the financial strength rating (FSR) to A- (Excellent) from A (Excellent) and issuer credit rating (ICR) to "a-" from "a" of American Health and Life Insurance Company (AHLIC). Additionally, A.M. Best has affirmed the FSR of A- (Excellent) and ICR of "a-" of Sears Life Insurance Company (Sears Life).

Concurrently, A.M. Best has affirmed the FSR of A (Excellent) and ICR of "a" of Triton Insurance Company (Triton). The outlook for all ratings is stable. These companies are all members of Citi Assurance Services Group (CAS), which is ultimately owned by Citigroup Inc. [NYSE: C]. All insurance companies are domiciled in Fort Worth, TX.

Life insurance payout boosts Canam earnings

Quebec's leading steel fabricator, Canam Group Inc., tallied a nearly fourfold increase in profit for its latest quarter after a winning a big life insurance payout following the death of one of its executives.

Boucherville-based Canam, which made and put up the structural steel and cables for the new retractable roof at B.C. Place Stadium, said Thursday it recorded net income of $9.7 million, or 22 cents a share, for the third quarter. That compares with a profit of $2.4 million, or five cents a share, for the same quarter last year.

Term Life Insurance and Long-term Life Insurance

What is a term life insurance policy or life insurance generally? A life insurance coverage offers financial safety to your family in the unfortunate occurrence of your death. At a standard level, it involves paying small sums every month (called premiums) to cover the risk of your unforeseen demise during the tenure of the policy. In such an occasion, your loved ones (or the beneficiaries you have named in the policy) will get a lump sum payment amount. In case you live till the maturity of the policy, depending on the type of life insurance coverage you have chosen, you will get returns the policy may have earned over the years. Today, there are lots of variations to this basic concept, and insurance plans focus on a wide array of needs.

New UK Life Insurance Website From We Know Money

With unemployment reaching a 17-year high, We Know Money, a network of ten consumer-friendly financial services websites has relaunched its website , aimed at anyone looking to protect themselves against unemployment, unforeseen illness or even death.

The life insurance site provides anyone looking for protection products with a range of helpful articles, hints and tips as well as the opportunity to compare life insurance products from trusted providers, including critical illness and income protection insurance. The site also includes a useful life insurance calculator, which allows users to work out their protection needs.