China Life Insurance's net profits more than double in 2024

BEIJING, March 26 (Xinhua) -- China Life Insurance (Group) Co., one of the country's biggest insurers, pocketed 106.94 billion yuan (about 14.9 billion U.S. dollars) of net profits in 2024, more than doubling its figure from the year prior.

The insurer's total premium income hit 671.46 billion yuan last year, up 4.7 percent year on year, it said in a statement.

Its total assets stood at 6.77 trillion yuan at the end of 2024, and its investment assets had reached 6.61 trillion yuan.

The firm's core solvency adequacy ratio reached 153.34 percent at the end of last year.