News Life and Health29 Apr 2019

China:Major life insurer's profits rise by 93% in Q1

Last week, China Life Insurance reported its net profits having risen 92.6% year-on-year during the first quarter of 2019, according to the state press agency Xinhua. The statement filed with the Shanghai Stock Exchange revealed the insurer's net profits to be CNY26.03bn ($3.88bn) which was attributed to rising incomes from its investments in the Chinese 'bull market'. At the same time, China Life's premium income increased by 11.9% year-on-year to CNY272.4bn. Shares in the company closed 0.71% lower at CNY29.49 on 25 April.

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