China Life Forecasts First-Half Profit to More Than Triple on Tech Stock Gains
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China Life Insurance estimated net profit attributable to shareholders at 128.9 billion yuan to 137.1 billion yuan for the six months ended June 30, up 215% to 235% from a year earlier. Photo: VCG
China Life Insurance Co. Ltd. said it expects first-half net profit to more than triple, lifted by strong returns from equity investments, especially in technology-related stocks.
The forecast underscores how swings in equity markets can have an outsized effect on Chinese insurers’ earnings, given the industry’s heavy use of fair-value accounting for investment assets.
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