Hong Kong · Delayed Price · Currency is HKD China Life Insurance Company Earnings Call Transcripts
Fiscal Year 2024
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Record gross written premiums and net profit were achieved in the first three quarters of 2024, driven by strong insurance business growth, improved investment income, and a stabilized, more productive sales force. The company is shifting its product mix and enhancing risk management amid evolving market and regulatory conditions.
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Gross written premium rose to CNY 489.57 billion and net profit grew 5.9% year-on-year in H1 2024. Embedded value increased 11.4%, and new business value surged 18.6%. Interim dividend of RMB 0.20 per share introduced, with strong solvency and cost control.
Fiscal Year 2023
Fiscal Year 2021
Fiscal Year 2020
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Q1 insurance revenue rose 13% YoY and new business value grew 8.3%, while net profit fell 34.4%. COVID-19 disrupted February operations; recovery remained uncertain, with stable full-year new business value growth as the goal.