China Life's net profit growth in 2006 is expected to jump 50
percent, according to a company statement issued Tuesday.
The expected results had not been independently pre-audited, and
detailed figures would be released soon in the audited 2006 annual
report, the company said.
As the country's largest life insurer, premium income last year
went up by 14.2 percent. The figure, still to be audited, rose to
183.8 billion yuan (US$23.6 billion), said the report.
Rapid business expansion and sound momentum in the capital
market boosted the 2006 revenue, said the report.
China Life plays a dominant role in the country's life insurance
market. Its premium income reached 160.95 billion yuan in 2005,
accounting for 44.1 percent of the total of all life insurers in
China.
Net profits in 2005 approached 5.45 billion yuan, with earnings
per share reaching 0.2 yuan.
The Hong Kong-listed China Life listed on the Shanghai A-share
market this month with an issue price of 18.88 yuan per share. It
had jumped 130 percent to close at 43.47 yuan on
Thursday.?
(Xinhua News Agency January 30, 2007)