China Life Insurance's net profit up 34.2% in H1

BEIJING - China Life Insurance Co, one of the country's biggest insurers, pocketed 40.98 billion yuan ($6.32 billion) of net profit in the first half of the year, up 34.2 percent from the same period last year.

The insurer's premium income hit 442.3 billion yuan in the first half of the year, up 3.5 percent year-on-year.

Its total assets reached 4.65 trillion yuan at the end of June, up 9.4 percent from the end of 2020.

The total investment return rate was 5.69 percent, up 35 basis points from the same period in 2020.