BEIJING, Aug. 29 (Xinhua) — The net profits of New China Life Insurance Co., a leading insurer, stood at 8.22 billion yuan (about 1.19 billion U.S. dollars) during the first half of the year.
Its premium income jumped 30.9 percent year on year to 96.88 billion yuan during the period.
With a balanced business structure as well as safe and prudent asset management, the insurer maintained a stable performance during the first half, according to Li Quan, CEO of the Beijing-based company.
Due to the COVID-19 pandemic, global capital markets witnessed wild fluctuations in the first half. The company realized an annualized investment return of 5.1 percent during the period, up 0.4 percentage points year on year.
At the end of June, the company’s total assets reached 939.35 billion yuan. Enditem
LINK ORIGINAL: Xinhuanet