China Life Insurance Company Limited (HKG: 2628)

China Life Insurance Company Balance Sheet

Financials in millions CNY. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Jun 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Investments in Debt Securities	3,198,217	2,933,680	2,453,647	2,327,297	1,770,179	1,438,542
Investments in Equity & Preferred Securities	360,448	1,293,414	1,119,844	893,696	874,377	772,149
Policy Loans	-	270,486	254,407	236,209	204,252	178,249
Other Investments	555,648	420,115	521,925	539,762	552,875	536,236
Total Investments	5,989,631	5,184,327	4,586,798	4,217,102	3,577,464	3,078,923
Cash & Equivalents	85,485	103,138	85,645	55,819	36,261	30,517
Reinsurance Recoverable	26,542	7,973	7,840	6,630	6,095	5,161
Other Receivables	-	422,361	426,564	522,837	535,879	505,598
Separate Account Assets	-	8,416	7	9	10	10
Property, Plant & Equipment	54,821	54,774	55,887	57,388	54,846	54,240
Other Intangible Assets	8,254	8,369	8,532	8,507	8,341	8,070
Restricted Cash	4,902	46,428	43,308	5,075	21,372	24,565
Other Current Assets	-	4,626	4,789	7,546	2,799	7,209
Long-Term Deferred Tax Assets	19,736	30,287	22,307	121	87	128
Long-Term Deferred Charges	-	473	525	822	1,062	1,120
Other Long-Term Assets	33,267	17,307	9,782	10,624	8,250	11,193
Total Assets	6,222,638	5,888,479	5,251,984	4,892,480	4,252,466	3,726,734
Accrued Expenses	7,392	17,106	19,773	19,074	20,258	21,643
Insurance & Annuity Liabilities	-	4,860,000	4,338,672	3,843,528	3,369,850	2,922,158
Unpaid Claims	66,109	91,053	86,972	83,052	77,022	69,423
Unearned Premiums	5,353,817	64,038	63,938	62,761	67,722	73,899
Reinsurance Payable	265	748	998	808	1,036	817
Current Portion of Long-Term Debt	-	3,364	3,192	794	-	3,126
Current Portion of Leases	777	757	919	1,093	1,273	1,331
Short-Term Debt	112,081	216,704	148,954	240,922	123,890	119,203
Current Income Taxes Payable	1,102	309	238	248	191	223
Long-Term Debt	12,657	44,354	44,579	51,946	52,907	50,794
Long-Term Leases	547	498	650	1,089	1,391	1,760
Long-Term Deferred Tax Liabilities	-	1,549	272	7,481	15,286	10,330
Separate Account Liability	-	8,416	7	9	10	10
Other Current Liabilities	23,373	1,136	1,274	1,159	965	1,008
Other Long-Term Liabilities	140,385	107,562	95,372	89,371	62,287	40,742
Total Liabilities	5,718,505	5,418,437	4,806,863	4,405,346	3,795,529	3,317,392
Common Stock	28,265	28,265	28,265	28,265	28,265	28,265
Additional Paid-In Capital	53,937	53,934	53,554	55,004	53,999	55,009
Retained Earnings	494,653	366,524	359,277	345,493	312,930	283,536
Comprensive Income & Other	-83,021	11,387	-4,927	50,299	54,862	36,954
Total Common Equity	493,834	460,110	436,169	479,061	450,056	403,764
Minority Interest	10,299	9,932	8,952	8,073	6,881	5,578
Shareholders' Equity	504,133	470,042	445,121	487,134	456,937	409,342
Total Liabilities & Equity	6,222,638	5,888,479	5,251,984	4,892,480	4,252,466	3,726,734
Filing Date Shares Outstanding	28,265	28,265	28,265	28,265	28,265	28,265
Total Common Shares Outstanding	28,265	28,265	28,265	28,265	28,265	28,265
Total Debt	126,062	265,677	198,294	295,844	179,461	176,214
Net Cash (Debt)	-40,577	-162,539	-112,649	-240,025	-143,200	-145,697
Net Cash Per Share	-1.44	-5.75	-3.99	-8.49	-5.07	-5.15
Book Value Per Share	17.47	16.28	15.43	16.95	15.92	14.28
Tangible Book Value	485,580	451,741	427,637	470,554	441,715	395,694
Tangible Book Value Per Share	17.18	15.98	15.13	16.65	15.63	14.00
Buildings	-	63,464	62,930	59,802	50,404	44,747
Machinery	-	11,308	10,152	9,705	9,443	9,732
Construction In Progress	-	5,182	5,025	6,789	11,332	14,377

Source: S&P Capital IQ. Insurance template. Financial Sources.