China Life Profit Rises as Investments Show Resilience (1)

China Life Insurance Co. said profit rose 40% in the first quarter as client demand boosted policy sales and its investments showed resilience during a stock market decline.

Net income climbed to 28.8 billion yuan ($4 billion), from 20.6 billion yuan a year earlier, the Beijing-based company said in a stock exchange filing Tuesday.

China Life’s growing allocations to high-dividend stocks and higher-yield bonds cushioned its investment returns from a stock market decline in the first quarter amid trade tensions with the US. The improved appeal of savings products in an environment of low interest rates helped bolster sales, underpinning ...