China Life(601628) 证券日报·2025-03-28 07:40Core Viewpoint - In 2024, China Life Insurance Company aims to adapt to profound industry changes, emphasizing long-termism and comprehensive reforms, achieving historical highs in multiple core indicators, and enhancing scale, value, speed, quality, structure, efficiency, and safety [1] Group 1: Performance Highlights - Total premium income reached 671.457 billion yuan, with first-year premium income at 119.077 billion yuan, both setting historical records; embedded value exceeded 1.4 trillion yuan; new business value for 2024 was 33.709 billion yuan, leading the industry [1] - Total investment income amounted to 308.251 billion yuan, with a year-on-year increase of 150%; net profit attributable to shareholders surpassed 100 billion yuan, reaching 106.935 billion yuan, marking the best performance in history [1] - Total assets reached 6.77 trillion yuan, a year-on-year growth of 16.7%; solvency ratio remained high, and the service quality index ranked first in the industry for two consecutive years [1] - Risk rating maintained an A class for 26 consecutive quarters, and consumer protection regulatory evaluation remained at the highest level in the industry [1] Group 2: Strategic Initiatives - China Life is actively implementing the "Five Major Financial Articles" as outlined by the State Council, focusing on green development and strategic emerging industries, while enhancing digital and intelligent construction [2] - The company plans to innovate product services, particularly in commercial annuities, health insurance, inclusive insurance, and green insurance, to improve the insurance protection level for specific groups [2] - Emphasizing the advantages of patient capital, China Life will leverage insurance funds to support national strategic opportunities and industry transformation, focusing on long-term investments in hard technology and green enterprises [3] - The company aims to strengthen its digital financial system, enhancing capabilities across various operational aspects, while managing risks associated with new technologies [3] Group 3: Future Focus - In 2025, China Life will focus on maintaining steady growth in core indicators, promoting continuous value growth, accelerating the transformation of development dynamics, and enhancing foundational management and talent development [4]