China Life’s revenue surges as top insurer ramps up investment in AI, chips and biotech
China Life Insurance, the country’s largest life insurer, has posted record highs in its first-half results, and says it will scale up investments in technology-related sectors while seeking to become a long-term partner for innovative enterprises. The Shanghai- and Hong Kong-listed insurer recorded revenue of 434.3 billion yuan (US$64.6 billion), up 81.5 per cent year on year, according to…
China Life Insurance, the world's largest life insurer, reported record-breaking first-half results, with revenue soaring 81.5 percent year-on-year to 434.3 billion yuan (US$64.6 billion). Net profit more than tripled, reaching 134.5 billion yuan. The Shanghai- and Hong Kong-listed company's growth was attributed to strategic business development, diversification, and strong investment returns.
Vice-president Liu Hui explained that investment in sectors related to new quality productive forces, such as artificial intelligence, semiconductors, healthcare, biotechnology, and new-generation infrastructure, were key growth drivers for the company. China Life has already increased its investments in these areas, surpassing 540 billion yuan in the half-year period and allocating over 1 trillion yuan to technology finance. The company aims to become a long-term partner for innovative enterprises.
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