China Life Insurance (02628) announced interim results. Net profit attributable to mother of 134.489 billion yuan increased 228.6% year over year

According to the Zhitong Finance App, China Life Insurance (02628) announced interim results for the six months ended June 30, 2026. The group obtained revenue of RMB 434.563 billion (same unit), an increase of 81.5%; net profit attributable to the company's shareholders of RMB 134.489 billion, an increase of 228.6%; earnings per share of 4.76 yuan; and an interim cash dividend of RMB 3.58 per 10 shares.

During the reporting period, the company adhered to the value and benefit orientation, reached new heights in business development, achieved remarkable results in business structure transformation, and further improved the sustainability and financial content of development. The premium for the new policy reached RMB 180,039 billion, up 11.6% year on year. The first-year premium surpassed RMB 100 billion in the first six months, reaching RMB 101,294 billion, up 24.7% year on year, ranking first in the industry. First-year premiums of ten years and above reached RMB 36.121 billion, up 19.2% year on year, accounting for 35.66% of first-year premiums. The long-term competitive advantage was stable. The total premium reached RMB 536.634 billion, and the market leading position was stable. The company continues to deepen product supply and business development with diverse forms, multiple terms and costs. The proportion of premiums for new life insurance, annuity insurance, and health insurance policies is 22.80%, 42.49%, and 31.55%, respectively; the transformation of the business structure continues to deepen, and the floating income business has achieved strong growth. The value of the company's new business reached RMB 38.167 billion in the first half of the year, with a rapid increase of 33.7% over the same period last year, continuing to lead the industry; scientifically managing debt costs, strengthening cost reduction and efficiency, and continuing to improve cost input and output efficiency; continuously optimizing the asset allocation structure, investment income increased year-on-year. The total investment income reached RMB 314.504 billion, an increase of RMB 186.998 billion over the same period last year, and the total return on investment reached 5.58%, up 229 basis points from the same period last year.

By the end of the reporting period, the company's total assets and investment assets had maintained steady growth, at RMB 8.09 trillion and RMB 7.95 trillion respectively; shareholders' equity attributable to the company's shareholders reached RMB 664.203 billion, an increase of 11.6% over the previous year; the comprehensive solvency ratio reached 197.78%, and the core solvency ratio reached 156.80%, which continued to maintain an adequate level; the number of valid long-term insurance policies reached 328 million; the total market value reached RMB 1.61 trillion, ranking first in the global life insurance company list. The company jumped to 47th place in the Forbes' “2000 Global Companies” ranking. The international credit rating continued to maintain the highest rating of Chinese insurance companies, and maintained an A rating for 32 consecutive quarters in the comprehensive risk rating of insurance companies.

The company integrates the asset liability management concept into all aspects of business management, and the balance and liability linkage continues to deepen. In the first half of 2026, net profit attributable to the company's shareholders was RMB 134.489 billion, a significant increase of 228.6% over the previous year.