On the evening of October 30, China Life Insurance Company Limited (hereinafter referred to as "China Life," stock codes: 601628.SH, 2628.HK) released its financial report for the first three quarters of 2025. Adhering to the directives of central financial and economic work conferences and the new "Ten Guidelines" for the insurance industry, China Life prioritized people-centric development, reinforced its market leadership, and achieved comprehensive growth in scale, value, efficiency, and risk management.
Key highlights include a 41.8% surge in new business value and a net profit attributable to shareholders of 167.8 billion yuan, up 60.5% year-on-year (YoY). Shareholders' equity reached 625.83 billion yuan, a 22.8% increase from end-2024. As of September 30, 2025, the company maintained robust solvency metrics, with core and comprehensive solvency adequacy ratios at 137.50% and 183.94%, respectively. China Life also retained its "Class A" risk rating for the 29th consecutive quarter.
Total assets and investment assets grew to 7.42 trillion yuan and 7.28 trillion yuan, up 9.6% and 10.2% from end-2024. Premium income hit a record 669.65 billion yuan (up 10.1% YoY), driven by new premiums of 218.03 billion yuan (up 10.4% YoY). The lapse rate remained low at 0.74%.
**Investment Performance**: China Life generated 368.55 billion yuan in total investment income, a 40% YoY increase, with a total investment yield of 6.42% (up 104 basis points YoY). The company optimized asset allocation by advancing long-term investments and aligning with emerging sectors like "new productive forces."
**Product Innovation**: Expanding its health and pension insurance offerings, China Life introduced products such as long-term disability income insurance and elderly bone health coverage. It also tailored solutions for SMEs, rural areas, and the "Belt and Road" initiative, providing 2.7 trillion yuan in risk coverage to small businesses in H1 2025.
**Digital Transformation**: The revamped China Life App surpassed 160 million registered users. Over 760 service counters were upgraded, and AI-driven underwriting achieved a 95.8% automation rate. The company processed 12 million claims in H1, with 75% handled digitally.
**ESG Leadership**: MSCI upgraded China Life’s ESG rating to "AA," the highest among domestic peers. The company integrated ESG into investments, backing green transport, rural industries, and low-carbon projects under the Belt and Road framework.
China Life reaffirmed its commitment to customer-centric growth, risk management, and sustainable development as it aims to conclude the 14th Five-Year Plan strongly.