Bei Jing Shang Bao·2025-03-26 14:36Core Viewpoint - China Life Insurance Company achieved record-breaking performance in 2024, with net profit exceeding 100 billion yuan and multiple individual insurance indicators reaching new highs [1][5]. Financial Performance - The company reported a net profit attributable to shareholders of 106.935 billion yuan, a significant increase of 108.9% year-on-year [5]. - Net investment income reached 195.674 billion yuan, with a net investment yield of 3.47%, while total investment income was 308.251 billion yuan, reflecting a year-on-year growth of 150.4% [5]. - Total premiums exceeded 671.4 billion yuan, maintaining the company's position as the industry leader [1][5]. Business Growth - The new business value for the year grew by 24.3% year-on-year, reaching 33.709 billion yuan, also leading the industry [7]. - The first-year premium income was 119.077 billion yuan, with a 14.3% increase in ten-year and above first-year premiums [7][8]. - The total sales force stood at 666,000, with individual insurance sales personnel numbering 615,000, indicating stable growth in sales capacity [7][8]. Capital and Solvency - Total assets and investment assets both surpassed 6 trillion yuan, reaching 6.77 trillion yuan and 6.61 trillion yuan, respectively [6]. - Shareholder equity exceeded 500 billion yuan for the first time, amounting to 509.675 billion yuan, a year-on-year increase of 55.5% [6]. - The comprehensive solvency adequacy ratio was 207.76%, and the core solvency adequacy ratio was 153.34%, indicating strong financial stability [6]. Strategic Initiatives - The company launched its first mid-term dividend, with total dividends for the year amounting to 18.372 billion yuan [6]. - China Life is focused on building a "Life Insurance +" comprehensive financial ecosystem, collaborating with various subsidiaries to provide a wide range of financial services [10]. - The company is exploring synergies between insurance and investment businesses, enhancing its service offerings through technology and collaboration [10][11]. Market Trends and Innovations - The company is adapting to market demands by diversifying its product offerings and optimizing its sales channels, which has contributed to the growth in new business value [8][9]. - The "Seed Plan," part of the company's new operational strategy, is being piloted in 24 cities to innovate marketing models [8][10]. - Digital transformation is a key focus, with efforts to enhance online marketing and intelligent services, improving efficiency and customer experience [11].