China Life Insurance 1st Half Net Profit Up 18% on Year

By Chester Yung Features Dow Jones Newswires

China Life Insurance Co. (2628.HK) Thursday reported an 18% rise in first-half net profit, thanks to higher investment and premium income.

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China's major insurer said its net profit for the six months ended June 30 was 12.24 billion yuan (US$1.84 billion), up from CNY10.40 billion a year earlier, while its first-half total revenues rose 17% to CNY396.17 billion.

The insurer said first-half investment income rose 5.8% from a year earlier to CNY57.70 billion. Its net premiums earned CNY336.27 billion, up from CNY284.24 billion a year earlier, the insurer said.

The company didn't declare an interim dividend.

Write to Chester Yung at chester.yung@wsj.com

(END) Dow Jones Newswires

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August 24, 2017 07:47 ET (11:47 GMT)