Companies

China Life says net profit up 2.3% in 2010

(Xinhua)
Updated: 2011-03-23 09:19

BEIJING - China Life, the nation's largest life insurer, said Tuesday its net profit rose 2.3 percent year on year to 33.63 billion yuan ($5.10 billion) in 2010.

Related readings:  Minsheng in $3b offering aimed at China Life, others  New China Life eyes HK, Shanghai dual listing  Citi, China Life invest more in Guangdong bank

Sales revenue increased 13.7 percent to 388.79 billion yuan. Earnings per share were 1.19 yuan, up 2.3 percent, according to the company's annual report posted on the website of the Shanghai Stock Exchange.

The company said it had secured its leading position in the nation's life insurance market with 318 billion yuan in premium revenue last year.

The company's total assets were worth 1.41 trillion yuan by the end of 2010, an increase of 15 percent from the previous year.