| China Life posts nearly 76% growth in net profits |
| Wednesday,April 18,2007 Posted: 16:44 BJT(0844 GMT) chinaview |
BEIJING, April 18 (Xinhua) -- China Life, the nation's largest life insurer, reported net profits up 76 percent year-on-year to 9.6 billion yuan (1.2 billion U.S. dollars) in 2006 in its annual report released on Wednesday. Its earnings per share stood at 0.34 yuan, up 70 percent. The Shanghai- and Hong Kong-listed company held 45 percent of the domestic market, according to China Insurance Regulatory Commission, the industry watchdog. In 2006 China Life raked in 184 billion yuan (24 billion dollars) in premiums, up 14 percent on the previous year. Its total assets amounted to 685 billion yuan (89 billion dollars), up 31 percent. The annual report cited juicy investment returns -- up 153 percent on the year-earlier level to 23 billion yuan (3 billion dollars) -- as the key factor in its profit growth. |
| (Source: English Site of Lagos) |
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