Home / English Column / Business (new) / In Industry / Finance Tools: Save | Print | E-mail | Most Read | Comment
Strong Growth for China Life
Adjust font size:

China Life Insurance Co, the country's biggest life insurer, saw its profit more than doubled last year, fueled by premium growth and higher investment return from the booming stock market.

 

Net income increased to 19.96 billion yuan, or 0.75 yuan a share, from 9.31 billion yuan in 2005, or 0.35 yuan a share, the Beijing-headquartered insurer said in a statement to the Hong Kong stock exchange yesterday, citing international accounting standards.

 

"The improved operating performance has contributed to the growing sale of policies and higher investment returns," said Yang Chao, chairman of China Life.

 

In 2006, the company's total gross written premiums reached 92.32 billion yuan, an increase of 23.2 percent over the previous year.

 

The rapid growth in business and the improvement of business quality enhanced the insurer's embedded value, an industry yardstick that reflects future premiums customers are required to pay under existing policies and an indicator of insurers' business sustainability.

 

The company's embedded value hit 181.99 billion yuan at the end of 2006, a jump of 59.7 percent from the previous year. The value of new businesses for last year was 10.48 billion yuan, an increase of 40 percent from 2005.

 

"China Life's performance is better than our expectation, and the stronger-than-ever stock market last year was also a trigger," said an analyst with China CITIC Securities, adding the insurer still has huge growth potential as it gradually extends to the property and pension sectors.

 

China Life has been one of the largest institutional investors in the country's capital market. Last year the company's asset investment was 6.87 billion yuan, an increase of 38.9 percent year-on-year.

 

Thanks to the booming stock market in 2006, China Life's investment yield was 4.27 percent, up 41 basis points from 2005. However, this is a bit lower than the industry average of 5.8 percent for 2006, statistics from the China Insurance Regulatory Commission (CIRC) show.

 

"We are going to focus our equity investment on the infrastructure and financial sectors this year," Liu Lefei, chief investment officer of China Life, had earlier told China Daily.

 

In 2006, China Life became CITIC's second-largest shareholder and one of the three biggest shareholders of Guangdong Development Bank. It also set up an overseas investment platform China Life Franklin Asset Management Company Limited.

 

China's insurance market, dominated by China Life and rival Ping An Insurance, has seen an average annual growth of 30 percent in the past two decades.

 

Shares in China Life nearly quadrupled last year, outperforming those of Ping An, and its shares now trade at around 36 times the estimated 2007 earnings, compared with roughly 10 times the projected earnings for American International Group, the world's largest insurer by market value.

 

The company's market share last year was 45.27 percent.

 

(China Daily April 18, 2007)

 

Tools: Save | Print | E-mail | Most Read
Comment
Pet Name
Anonymous
China Archives
Related >>
- China Life Sale 'Could Raise US$3.6b'
- China Life Shares Rise on Shanghai Debut
- China Life Chair Set to Take Helm at PICC
- China Life Expected to See 50% Growth in Net Profit
Most Viewed >>

Product Directory
China Search
Country Search
Hot Buys
主站蜘蛛池模板: 国产精品久久久久…| 成人午夜性A级毛片免费| 亚洲欧美国产精品| 百合潮湿的欲望| 四虎影院国产精品| 香港三级理论在线影院| 国产白嫩美女在线观看| 20岁chinese魅男gay| 多人伦精品一区二区三区视频| 一级大片免费看| 揄拍自拍日韩精品| 久久午夜国产电影| 日韩精品极品视频在线观看免费| 亚洲国产精品一区二区久久| 波多野结衣中文字幕电影播放 | www.亚洲日本| 性宝福精品导航| 中文字幕一区二区三区永久| 日本24小时在线| 久久九九99热这里只有精品| 高级秘密俱乐部的娇妻| 国产第一页福利| 18禁美女黄网站色大片免费观看 | 亚一亚二乱码专区| 欧美人善交videosg| 亚洲成人动漫在线观看| 欧美黑人激情性久久| 亚洲美女视频免费| 爆乳少妇在办公室在线观看| 免费人成年激情视频在线观看| 高清色本在线www| 国产无套露脸大学生视频| 亚洲制服丝袜第一页| 好男人好资源影视在线| 中国胖女人一级毛片aaaaa| 操动漫美女视频| 中文字幕在线电影观看| 扒开女人内裤边吃奶边摸| 中文字幕成人精品久久不卡| 按摩xxxx全套| 中文字幕在线免费|