China Life's quarterly report: net profit down 99% YoY, investment income continues to come under pressure
Hawk_Finance
2023-10-27 17:50:21
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On October 26, China Life released its third quarter report for 2023, the first quarterly report of a listed insurer.。Data show that in the first three quarters of 2023, China Life's premium income reached 5787.9.9 billion yuan, up 4.5%, new single premium up to 1966.5.6 billion yuan, up 14.8%。However, due to the continued low operation of the equity market, investment income decreased year-on-year, the first three quarters of China Life's net profit attributable to the mother also decreased by 47.8% up to 162.9 billion yuan。China Life executives said at their third-quarter results conference on the evening of the 26th that overall investment returns are under pressure this year, which is a common problem facing the insurance industry.。Looking ahead to the fourth quarter and next year, the macroeconomic recovery is expected to continue, but the slope and sustainability of the recovery remains to be seen。
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