China Life Insurance Company Limited, the country's largest life insurer, posted an H1 net profit of 13.92 billion yuan (US$2.04 billion), up 29.22% year on year.
China Life Pension Co, an affiliate of the country's largest insurer China Life Insurance Co, set up its first branch in the city yesterday, to vie for market share in Shanghai's fast-growing corporate annuities business.
China Life Insurance Co., Ltd. Friday reported a net profit of 5.39 billion yuan (US$798.88 million) in the first quarter, up 55.07 percent from the same period last year.
China Life, the country's largest insurer by premiums said on Thursday that its net profit fell 45 percent in 2008, as the huge equity investment losses mopped up gains in premium revenues.