China Life Insurance reports hefty gains in 2019 net profits

Source: Xinhua | 2020-03-30

China Life Insurance Co., one of the country's biggest insurers, saw its net profits more than quadruple last year, according to a performance report on its website.

Net profit attributable to shareholders skyrocketed 411.5 percent year on year to 58.29 billion yuan (about 8.28 billion U.S. dollars) last year.

Its business revenue rose 15.9 percent from a year ago to 745.17 billion yuan in 2019, the report said.

The company continued to take the lead in the insurance sector last year with a premium income of 567.09 billion yuan, an increase of 5.8 percent over the same period of 2018, data showed.