Nan Fang Du Shi Bao·2025-03-26 14:20Core Insights - China Life Insurance Company reported a significant increase in net profit, reaching 1069.35 billion yuan, a year-on-year growth of 108.9%, marking its best performance in history [3][4] - The total premium income for the company reached 6714.57 billion yuan, a 4.7% increase compared to the previous year [3][6] Investment Performance - The total investment income was 3082.51 billion yuan, with a total investment return rate of 5.50%, the highest in recent years [4] - The company achieved net investment income of 1956.74 billion yuan, with a net investment return rate of 3.47% [4] - As of the end of 2024, the investment assets amounted to 66110.71 billion yuan, with a bond allocation ratio of 59.04% [4] Business Segments - Individual insurance channel premiums grew by 5.5% to 5290.33 billion yuan, while the health insurance segment saw a 4.5% increase to 1191.36 billion yuan [6] - The accident insurance segment, however, experienced a decline of 7.6%, with total premiums at 136.10 billion yuan [6] - The bank insurance channel premiums decreased by approximately 3.23% to 762.01 billion yuan [6][7] New Business Value - The new business value for 2024 reached 337.1 billion yuan, reflecting a rapid growth of 24.3% based on 2023 economic assumptions [9] - The first-year premium income was stable, with a notable increase in long-term policies, which accounted for 56.42% of first-year premiums [9] Financial Strength - Total assets and investment assets both surpassed 6 trillion yuan, reaching 6.77 trillion yuan and 6.61 trillion yuan respectively [10] - The company's equity attributable to shareholders exceeded 500 billion yuan for the first time, amounting to 5096.75 billion yuan, a year-on-year increase of 55.5% [10] - The solvency ratios remained strong, with a comprehensive solvency adequacy ratio of 207.76% and a core solvency adequacy ratio of 153.34% [10] Future Strategy - The company outlined its "333 strategy" for the next five years, focusing on developing three new growth areas: pension, health, and wealth management [10] - The emphasis will be on high-quality development, value creation, and transformation to foster new growth momentum [10]