China Life Insurance Company Limited (2628) reported notable growth in key financial metrics for the third quarter of 2025. The group’s total assets reached RMB7,417,981 million as of September 30, 2025, representing a 9.6% increase compared to the end of the previous year. Equity attributable to equity holders stood at RMB625,828 million, a 22.8% rise over the same period.

Operating income expanded by 25.9% year on year to RMB537,895 million during the first nine months of 2025. Net profit before income tax climbed to RMB204,715 million for the same period, reflecting a growth rate of 65.6% year on year. Net profit attributable to equity holders for the nine-month period reached RMB167,804 million, exhibiting a 60.5% jump. Earnings per share rose to RMB5.94, while weighted average return on equity improved significantly to 29.27%.

According to the announcement, gross written premiums from January to September amounted to RMB669,645 million, a year-on-year increase of 10.1%. Premiums from new policies totaled RMB218,034 million, up 10.4%, while short-term insurance premiums rose 2.0% to RMB75,149 million. Renewal premiums advanced to RMB451,611 million, reflecting a 10.0% year-on-year growth. The value of new business for the first three quarters of 2025 rose 41.8% compared to restated results for the same period of the previous year.

Investment results also improved. Gross investment income reached RMB368,551 million for the first three quarters, marking a 41.0% increase. The gross investment yield was reported at 6.42%, driven by an enhanced asset mix and favorable market conditions.

China Life (2628) highlighted stable sales force management, a low surrender rate of 0.74%, and improvements in product diversification. As of September 30, 2025, the core and comprehensive solvency ratios stood at 137.50% and 183.94%, respectively, maintaining relatively high levels. The company intends to continue emphasizing core business value and cost management while further enhancing asset-liability interaction and risk controls to support long-term strategic goals.