China Life Insurance Company (2628) Q3 2025 earnings summary

Executive summary

• Achieved robust business growth and operational improvements, with significant increases in scale, value, and efficiency across core insurance and investment activities.

• Maintained a leading market position, with a stable and improving sales force and enhanced profitability.

Financial highlights

• Total assets reached RMB7,417,981 million, up 9.6% from end-2024; equity attributable to shareholders rose 22.8% to RMB625,828 million.

• Operating income for the first nine months was RMB537,895 million, up 25.9% year-over-year; net profit attributable to shareholders was RMB167,804 million, up 60.5%.

• Gross written premiums for the first three quarters were RMB669,645 million, up 10.1% year-over-year.

• Gross investment income reached RMB368,551 million, up 41.0% year-over-year; gross investment yield was 6.42%, up 104 basis points.

• Earnings per share for the nine months was RMB5.94, up 60.5% year-over-year.

Outlook and guidance

• Will continue to prioritize business value, profitability, long-term development, asset-liability interaction, and risk mitigation to achieve full-year targets and conclude the 14th Five-Year Plan.