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China Life Insurance’s First Half Net Profit Increases 43%

Company reported a net profit of RMB8.73 billion for the first half of 2009

China Life Insurance, the parent of China Life Insurance Company, has reported a net profit of RMB8.73 billion for the first half of 2009, an increase of 43% over the corresponding period of 2008 – reported in Trading Markets.

The company has extracted premium revenue of RMB186.5 billion in the first half of 2009, a decrease of 4.6% compared to RMB195.5 billion in the same period of 2008.

The premium revenue earned in the first half represents nearly 30.7% of the total premiums of the insurance sector in China, according to reports.

The group’s premium income increased 46.81% year-on-year, to about RMB195.46 billion in the first half of 2009.

Total assets of the company at the end of June 2009, were RMB1.42 trillion, an increase of 10.8% over the same period of 2008.