HIGHER INVESTMENT RETURNS HELP BOOST CHINA LIFE EARNINGS BY 114%

China Life has recorded net profit of 19.96bn yuan ($2.58bn) for 2006, up 114.4% on the previous year’s figure. The gain was attributed to an increase in policy sales and an improved yield on investments. Revenue increased by 50% to 147.31bn yuan. Net premium income and policy fees rose by 23.5% to 98.8bn yuan. Embedded value rose by 59.7% to 182bn yuan, with the value of new business rising by 40% to 10.48bn yuan. The result, which exceeded a consensus of analyst expectations, saw the company’s share price up 0.6% in mid-morning Hong Kong trade, in a generally flat market.