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China's Ping An Insurance, the country's largest insurer by market value, posted its biggest decline in annual profit since 2008 as premium income shrank amid a weak economy and disappointing investment returns from the real estate sector.
The company said its 2021 net profit fell by 29% from the previous year to 101.6 billion yuan ($16 billion), as premium income from life insurance fell 4.1% year over year to 490.3 . . .
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