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China Life first half profit up 15 percent

 

Thursday, Aug 27,2009, 12:50:29 PM   Click:

BEIJING_China Life Insurance Co., the country's biggest insurer by premiums, said Wednesday its first-half profit rose 15 percent from a year earlier on a surge in investment income and higher premiums.

Profit for the six months ending June 30 was 18.2 billion yuan ($2.7 billion), or 0.64 yuan (9 U.S. cents) per share, the Beijing-based insurer said. Revenues rose 21.3 percent from a year earlier to 120.4 billion yuan ($17.6 billion).

This year's surge in China's stock markets helped to boost the company's first-half investment income to 11.9 billion yuan ($1.7 billion), a 16-fold increase over the same period of 2008.

Premiums and policy feels rose 10.8 percent to 87.9 billion yuan ($12.8 billion), the company said.

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