Ping An Profit Falls as Market Volatility Hurts Returns (2)

Ping An Insurance (Group) Co.’s profit fell 8.8% in the first half as investment returns were dented by stock market volatility and lower interest rates during China’s economic slowdown.

Net income dropped to 68 billion yuan ($9.5 billion) from 74.6 billion yuan a year earlier, the Shenzhen-based company said in a filing to the Hong Kong stock exchange on Tuesday.

Operating profit, which the insurer says better reflects performance by stripping out short-term investment volatility and one-time items, rose 3.7%. That compares with a 2.4% increase in the first quarter.

China’s benchmark CSI 300 Index barely gained in the ...