Aug 30, 2024 04:18 PM
FINANCE
China Life Profit Rises as Stock Market Recovery Lifts Investment Returns
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Demand for savings products and lower distribution costs helped boost policy sales and profitability. Photo: Bloomberg
(Bloomberg) — China Life Insurance Co. Ltd., the nation’s largest life insurer by market share, said profit rose 11% in the first half as an improving stock market boosted investment returns.
Net income climbed to 38.3 billion yuan ($5.4 billion), from 34.6 billion yuan a year earlier, the Beijing-based company said in a filing to the Shanghai stock exchange Thursday.
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