Economy Based Investment

Protect and grow your investment

    Advertisements
  • Categories

  • Archives

China Life profit to up 50%

Posted by Adrian on January 31, 2007

China Life’s net profit growth in 2006 is expected to jump 50 percent, according to a company statement issued Tuesday.

The expected results had not been independently pre-audited, and detailed figures would be released soon in the audited 2006 annual report, the company said.

As the country’s largest life insurer, premium income last year went up by 14.2 percent. The figure, still to be audited, rose to 183.8 billion yuan (23.6 billion U.S. dollars), said the report.

Rapid business expansion and sound momentum in the capital market boosted the 2006 revenue, said the report.

China Life plays a dominant role in the country’s life insurance market. Its premium income reached 160.95 billion yuan in 2005, accounting for 44.1 percent of the total of all life insurers in China.

Net profits in 2005 approached 5.45 billion yuan, with earnings per share reaching 0.2 yuan.

The Hong Kong-listed China Life listed on the Shanghai A-share market this month with an issue price of 18.88 yuan per share. It had jumped 130 percent to close at 43.47 yuan on Thursday. (source : Xinhua)

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

 
%d bloggers like this: