China Life: 2025 Net Profit Attributable to Parent Company of 154.078 Billion Yuan, Up 44.1% Year-over-Year

On March 25, China Life Insurance released its 2025 annual report. In 2025, the company’s net profit attributable to shareholders of the parent company reached 154.078 billion yuan, a strong increase of 44.1% on a high base. The company’s total premiums surpassed 700 billion yuan for the first time, reaching 729.887 billion yuan, an 8.7% year-over-year increase. First-year regular premiums amounted to 116.205 billion yuan, maintaining the industry’s top position; long-term competitive advantages remain solid, with ten-year and longer first-year premiums totaling 52.197 billion yuan, accounting for 44.92% of total first-year premiums. Among these, individual insurance channels’ ten-year and longer first-year premiums accounted for over 58% of the channel’s total first-year premiums. The company continued to promote marketing system reforms and channel transformation, releasing new vitality. By the end of 2025, the total sales force reached 638,000 people, maintaining industry leadership, with ongoing improvements in professionalism, specialization, and youthfulness.

In 2025, new business value grew rapidly, increasing by 35.7% year-over-year to 45.752 billion yuan, continuing to lead the industry. The company strengthened cost reduction and efficiency improvements, enhancing detailed management, with significant gains in expense input-output efficiency. Dynamic optimization of major asset allocations led to a substantial increase in investment income, which reached 387.694 billion yuan, up 79.443 billion yuan from the previous year. The total investment return rate was 6.09%, an increase of 59 basis points compared to the same period last year.

As of the end of 2025, the company’s total assets and invested assets were 75.9 trillion yuan and 74.2 trillion yuan, respectively; shareholders’ equity attributable to the parent company was 595.205 billion yuan, a 16.8% increase year-over-year; the comprehensive solvency adequacy ratio was 174.01%, and the core solvency adequacy ratio was 128.77%, both maintaining sufficient levels. The company held 327 million effective long-term insurance policies. Embedded value was 1.47 trillion yuan, remaining the industry leader; the total market value, as well as the reserves for life and health insurance, ranked first among global life insurance companies.

(China Life Insurance)

(Edited by: Qian Xiaorui)

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