China Life(601628) 财经网·2025-03-28 04:33Core Viewpoint - China Life Insurance has demonstrated significant financial performance and strategic development in 2024, achieving record profits and maintaining its leading position in the industry [1][3][12]. Financial Performance - Total assets reached 6.77 trillion yuan, and investment assets reached 6.61 trillion yuan by the end of 2024 [1]. - Net profit attributable to shareholders was 1069.35 billion yuan, a substantial increase of 108.9% year-on-year, marking the best performance in history [1][3]. - Total premium income was 6714.57 billion yuan, with a year-on-year growth of 4.7% [1][3]. - Total investment income was 3082 billion yuan, showing a significant year-on-year increase of 150% [1][3][6]. Business Development - The company has successfully implemented asset-liability linkage, diversified product structures, and accelerated channel reforms, contributing to its robust business performance [2][3]. - The new business value for 2024 was 337.09 billion yuan, continuing to lead the industry [3][4]. - The first-year premium income reached 1190.77 billion yuan, setting a historical high [3][4]. Investment Strategy - The total investment income increased significantly due to proactive market engagement, with a total investment return rate of 5.50%, up 3.07 percentage points from 2023 [6][8]. - The company plans to increase its equity asset investment ratio in 2025, focusing on long-term and value investments [8][9]. - China Life has established a diversified and stable investment portfolio, with over 4.8 trillion yuan in public market bonds and stock investments [8][9]. Digital Transformation - The company has embraced digital transformation, enhancing operational efficiency and customer service through advanced data management and AI applications [10][11]. - Significant improvements in claims processing and customer service efficiency were reported, with approval efficiency exceeding 26% [10][11]. Risk Management - China Life has maintained an A-class risk rating for 26 consecutive quarters, reflecting its strong risk management capabilities [4][11]. - The company has integrated compliance management into all operational levels, achieving dual-standard certification for its compliance management system [11]. Future Outlook - The company aims to continue its high-quality development strategy, focusing on value creation, risk management, and global asset allocation capabilities [12].