The China Insurance Regulatory Commission also repeated its appeal from last month for insurers to put more money into capital markets to help stability, according to a statement issued late Monday.

Beijing announced a four trillion yuan (586 billion dollar) economic stimulus package last week to help maintain the pace of growth in China, which slipped to 9.0 percent in the third quarter, its slowest pace in five years.

The country's stock market has lost more than 60 percent since the start of the year, which has already lead to massive investment losses for insurers.

China's largest life insurer by premiums, China Life Insurance, reported on Tuesday that its third quarter net profit was down 70 percent year-on-year at 2.34 billion yuan (342 million dollars).

Ping An Insurance announced a third-quarter net loss of 7.81 billion yuan on Monday due mostly to losses from its five percent stake in dismantled European bank Fortis NV, which wiped out gains from premium growth.

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