China Life Insurance Co Ltd (STU:CHL)

Q1 2026 China Life Insurance Co Ltd Earnings Call (Chinese, English) Transcript

Apr 29, 2026 / 11:00 AM GMT

Release Date Price: €2.96 (+5.41%)

Transcript

Key Points

Positve

China Life Insurance Co Ltd (CILJF) reported a year-on-year increase of 1.1% in gross return premium, with long-term new policies premiums rising by 29.9%.
The company achieved a significant growth of 75.5% in the value of new business for the third quarter compared to the same period last year.
The sales force expanded to 644,000 agents, maintaining the largest scale in the industry, with improvements in both scale and quality.
Gross investment income reached RMB35.54 billion, with a gross investment yield of 2.1%, indicating effective investment strategies.
The solvency ratio remains strong at 156.87%, supporting the company's financial stability and growth potential.

Negative

The company faces challenges from market volatility, particularly due to geopolitical tensions and fluctuating interest rates.
Despite growth, the net profit attributable to equity holders was impacted by taxation issues, resulting in a negative RMB600 million in tax-related losses.
The insurance service performance showed volatility, with concerns about the impact of interest rate fluctuations on service fees and revenue.
The company is under pressure to manage liability costs effectively to maintain profitability amidst a low-interest environment.
There is uncertainty regarding the impact of market volatility on equity investments, which could affect long-term returns.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

601628.SS - China Life Insurance Co Ltd
Q1 2026 China Life Insurance Co Ltd Earnings Call (Chinese, English)
Apr 29, 2026 / 11:00AM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and gentlemen, good evening.

Welcome to Channel Live's 2026 third quarter results briefing. My name is Li Ying Hui, securities representative of the company. Today's briefing is being held online, attending. This briefing includes Mr. Li Mingguang, President, and Ms. Liu Hui, Vice President and Board Secretary, and also Ms. Hou Qin, Assistant President and Chief Actutory, and Mr. Lan Ying, former Assistant President, Ms. Yuan Ying, President, Charter of Finance, as well as Heads of relevant departments.

In addition, Mr. Lan Qi Kuan, Independent Director of the company, is attending the briefing online, so this briefing will be done bilingually, so you can select.

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