China Life Insurance Company announced robust first-quarter 2025 financial results on April 29, demonstrating resilience in a rapidly evolving insurance landscape. The company reported total premiums of 354.409 billion yuan (49billion),markinga5.04 billion). These results underscore China Life’s ability to balance scale, value, and efficiency despite macroeconomic headwinds and industry reforms.
Diversified Product Strategy Enhances Value Through Balanced Growth and Market Adaptation
The insurer’s focus on product diversification has driven significant value, with floating-income products representing 51.72% of first-year premiums, demonstrating strong alignment with market demands. The company achieved balanced growth across whole life, annuity, and health insurance segments, while new business value increased by 4.8% year-on-year under comparable economic assumptions. Additionally, renewal premiums rose 9.7% to 246.975 billion yuan, and new single premiums reached 107.434 billion yuan, supported by a notable 19.2% surge in short-term insurance premiums.
Sales Force Transformation Gains Momentum
Aligned with China’s “New Ten Policies for the Insurance Industry,” China Life has made significant strides in professionalizing its 596,000-strong sales team. The company implemented customer-centric “6+1” transformation measures and launched pilot programs for new marketing models while deepening its “Seed Plan” talent development initiative. These efforts have led to year-on-year improvements in team growth and retention rates. Additionally, China Life maintained robust solvency, with core and comprehensive solvency adequacy ratios at 146.12% and 199.34%, respectively, marking 27 consecutive quarters of ‘A’ risk ratings.
Prudent Investment Strategy Ensures Stability
Despite market volatility, China Life adopted a disciplined investment approach, generating total investment income of 53.767 billion yuan, with a return rate of 2.75%. Net investment income reached 44.247 billion yuan, reflecting a 2.60% return rate. The company seized opportunities in the bond market while holding long-term, value-oriented equity positions across its 6.819 trillion yuan investment portfolio, demonstrating resilience in uncertain conditions.
Strategic Focus on Future Growth
As China’s insurance sector undergoes profound changes, China Life is positioning itself for sustained growth by prioritizing customer-centric product innovation and digital transformation. The company is also enhancing operational efficiency and developing sustainable business models to adapt to evolving market demands. With total assets reaching 6.976 trillion yuan, China Life remains committed to achieving its 14th Five-Year Plan objectives.
Path to Becoming a World-Class Insurer
China Life continues to advance toward its vision of becoming a world-class life insurer with Chinese characteristics. Industry analysts are closely monitoring how the company navigates interest rate fluctuations and regulatory changes in the coming quarters. Its ability to balance stability, innovation, and long-term growth will be key to maintaining its leadership in the competitive insurance landscape.
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