China Life Insurance Co Class H ( (CILJF) ) has released its Q4 earnings. Here is a breakdown of the information China Life Insurance Co Class H presented to its investors.
China Life Insurance Co. Ltd., a leading life insurance provider in China, operates within the financial services sector, offering a range of insurance products and services. The company has demonstrated a strong performance in 2024, achieving record highs in key financial metrics despite a challenging external environment. Total assets grew to RMB6.77 trillion, while net profit attributable to equity holders soared to RMB106.9 billion, marking a 131.6% increase from the previous year. Gross written premiums reached RMB671.5 billion, and the company’s embedded value surpassed RMB1.4 trillion, maintaining its leadership in the industry.
The company’s financial results for 2024 highlight significant achievements, including a 53.3% increase in total revenues and a 158.5% rise in profit before income tax. The gross investment income also saw a substantial increase, reaching RMB308.3 billion, driven by strategic asset-liability management and market opportunities. The company maintained a high solvency ratio and continued to enhance its comprehensive strengths with a focus on high-quality development.
China Life Insurance has actively pursued diversification in its product offerings and business operations, achieving steady growth in first-year regular premiums and renewal premiums. The company has also focused on enhancing its sales force and digital capabilities, with the number of agents reaching 666,000. The company’s investment strategy has been effective, with a balanced portfolio and significant gains from equity investments contributing to the overall financial performance.
Looking ahead, China Life Insurance aims to continue its high-quality development, focusing on innovation, risk management, and strategic investments. The company plans to further strengthen its position in the insurance industry by enhancing its product offerings and expanding its market presence, while maintaining a commitment to serving the real economy and supporting national development goals.