China Life Insurance Co. said profit surged 174% in the first nine months of the year as a rally in the nation’s stock market bolstered investment returns.
Net income rose to 104.5 billion yuan ($14.7 billion) this year through Sept. 30, from a revised 38.2 billion yuan a year earlier, the Beijing-based company said in a filing to the Shanghai stock exchange on Wednesday. The increase quickened from an 11% gain in the first half.
A 17% jump in the benchmark CSI 300 Index boosted Chinese insurers’ investment returns during the period, offsetting the impact of lower bond yields. China ...
