China Life's first-half profit surged 229% year on year as total investment yield increased 229 basis points to 5.58%. New business value, or NBV, rose 34%, the strongest among peers.
We have seen strong demand for bancassurance products continue even after three rounds of pricing rate cuts since 2023, owing to the falling yield level of bank wealth management products.
China Life's historical growth in embedded value and new business value is lower than peers' as its product mix tilts toward short-term savings-type insurance products with low profitability.
|
Metric
|
601628
|
601318
|
01299
|
|---|---|---|---|
Price/Earnings (Normalized) | 4.19 | 6.32 | 11.94 |
Price/Book Value | 1.56 | 0.94 | 2.35 |
Price/Sales | 1.30 | 1.01 | 2.04 |
Price/Cash Flow | 2.35 | 1.47 | — |
|
Metric
|
601628
|
601318
|
01299
|
|---|---|---|---|
Quick Ratio | — | — | — |
Current Ratio | — | — | — |
Interest Coverage | — | 4.89 | 15.25 |
|
Metric
|
601628
|
601318
|
01299
|
|---|---|---|---|
Return on Assets (Normalized) | 3.32% | 1.33% | 2.35% |
Return on Equity (Normalized) | 42.76% | 18.71% | 19.29% |
Return on Invested Capital (Normalized) | 28.25% | 1.17% | 13.90% |
|
1-Day Chart
|
Name
|
Price
|
Morningstar Rating for Stocks
|
Capital Allocation
|
Economic Moat
|
Market Cap
|
|---|---|---|---|---|---|---|
| China Life Insurance Co Ltd Class H
CILJF
| — | LOCK|W%d | $141B | |||
| Ping An Insurance (Group) Co. of China Ltd ADR
PNGAY
| — | LOCK|yp | $135B | |||
| Ping An Insurance (Group) Co. of China Ltd Class H
PIAIF
| LOCK|>Zm#kV | LOCK|<tN | $135B | |||
| AIA Group Ltd ADR
AAGIY
| — | LOCK|!@% | $97B | |||
| AIA Group Ltd
AAIGF
| — | LOCK|?@ | $97B | |||
| Manulife Financial Corp
MFC
| LOCK|N&BL>W | LOCK|Pr< | $71B | |||
| MetLife Inc
MET
| LOCK|>@l<LF | LOCK|G^R | $60B | |||
| Aflac Inc
AFL
| LOCK|@WN^Gc | LOCK|ZMpB | $56B | |||
| Prudential Financial Inc
PRU
| LOCK|jzMwwk | LOCK|zM< | $39B | |||
| Prudential PLC ADR
PUK
| LOCK|%>j$D^L | LOCK|K# | $30B |
United States