China Life: Net profit attributable to the parent company is expected to be 154.078 billion yuan in 2025, a year-on-year increase of 44.1%.

On March 25, China Life released its 2025 annual report. In 2025, the company’s net profit attributable to shareholders of the parent company was 154.078 billion yuan, showing strong growth of 44.1% on a high base. Total premium income first surpassed 700 billion yuan, reaching 729.887 billion yuan, up 8.7% year over year. First-year regular premium income reached 116.205 billion yuan, firmly maintaining the No. 1 position in the industry; its long-term competitive advantages remained solid. First-year regular premium income for ten-year terms and above totaled 52.197 billion yuan, accounting for 44.92% of first-year regular premium income. Of this, in the individual insurance (individual agency) channel, first-year regular premium income for ten-year terms and above accounted for more than 58% of first-year regular premium income in that channel. The company continued to advance marketing system reforms and channel transformation to release vitality. By the end of 2025, the company had 638,000 total sales personnel, keeping its leading position in the industry in terms of scale. The levels of professionalization, specialization, and younger talent in the sales force continued to improve.

In 2025, the value of new business achieved rapid growth, increasing by 35.7% year over year to 45.752 billion yuan, continuing to lead the industry. The company strengthened cost reduction and efficiency improvement, enhanced refined management, and saw a significant improvement in the efficiency of expense investment and output. It dynamically optimized the allocation of major asset categories; investment returns increased significantly. Total investment gains reached 387.694 billion yuan, up 79.443 billion yuan from the previous year. The total investment yield was 6.09%, up 59 basis points from the same period last year.

By the end of 2025, the company’s total assets and investment assets were 7.59 trillion yuan and 7.42 trillion yuan, respectively. Shareholders’ equity attributable to shareholders of the parent company reached 595.205 billion yuan, up 16.8%. The comprehensive solvency adequacy ratio was 174.01%, and the core solvency adequacy ratio was 128.77%, continuing to maintain a sufficient level. The company had 327 million in-force policies for life insurance. Embedded value was 1.47 trillion yuan, firmly ranking No. 1 in the industry; the scale of total market capitalization and the reserves for life and health insurance ranked No. 1 globally among life insurance companies.

(China Life)

(Editor: Qian Xiaorui)

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