On the evening of October 30, china life insurance, known as the top insurer of the insurance industry, disclosed its third quarter financial report.

The data shows that in the first three quarters of 2024, china life insurance recorded revenue of 427.18 billion yuan, a year-on-year increase of 54.8%; achieving a net income attributable to shareholders of the parent company of 104.523 billion yuan, a year-on-year growth of 173.9%.Among them, in the third quarter, the company achieved revenue of 192.964 billion yuan, an increase of 124.7% year-on-year; and a net income attributable to shareholders of the parent company of 66.245 billion yuan, a 1767.1% increase compared to the same period last year.

Behind the double growth in revenue and net income, the investment business of this insurance giant has become a key driver.

Investment income has emerged as a highlight.

China life insurance's investment performance is quite remarkable in this third quarter report.

Data shows: In the first three quarters of 2024, china life insurance achieved a total investment income of 261.419 billion yuan, a year-on-year increase of 152.4% on the same basis, and a total investment yield of 5.38%.

Among them, the net investment income reached 144.712 billion yuan, a year-on-year increase of 3.9% on the same basis, with a net investment yield of 3.26%.

Regarding this, china life insurance's analysis states that it adheres to the principles of asset-liability matching and long-term investment, value investment, and prudent investment concepts, seizes market opportunities to carry out cross-cycle allocation, and continuously promotes the optimization of equity investment structure.

From the quarterly report description, the changes in the equity market have provided a considerable boost to the company's investments.

"After the low-level volatility in the stock market in the third quarter of 2024, the total investment income of the company increased significantly year-on-year." This was recorded in the quarterly report.

Total assets and investment assets increased by more than 10%.

As of the end of September this year, china life insurance's total assets reached 6.48 trillion yuan, and investment assets reached 6.36 trillion yuan, representing an increase of 11.7% and 12.3% respectively compared to the beginning of 2024.

In addition, this insurance company's solvency continues to maintain a relatively high level, with a core solvency adequacy ratio of 154.58% and a comprehensive solvency adequacy ratio of 211.64%.

"Smart money" rushing to buy

In the third quarter of this year, the top ten shareholders of China Life Insurance have been frequently "operating", all rushing to buy.

For example: The Hong Kong Central Clearing Company, representing the trend of offshore investors, increased its holdings by nearly 20% in a single quarter.

Another example: The large-cap blue-chip index fund - chinaamc shanghai a50 exchange traded fund, increased its position by over 20% compared to the previous quarter.

Furthermore, supported by the "smart money" China Investment Corporation, the 300etf series funds (managed by Huatai Bairui, E Fund, and Huaxia Fund Management) have also increased their shareholding in China Life Insurance.

Premiums continue to grow

Third quarter report revealed: In the first three quarters of 2024, the company's total premiums amounted to 608.251 billion yuan, a 5.1% year-on-year increase. Among them, renewal premiums were 410.742 billion yuan, up by 7.5% year-on-year; new business premiums were 197.509 billion yuan, up by 0.4% year-on-year.

In addition, the proportion of premiums for 10-year and above first-year premiums has maintained rapid growth, accounting for 46.43% of the first-year premiums, an increase of 4.31 percentage points compared to the same period in 2023.