China Life’s revenue surges as top insurer ramps up investment in AI, chips and biotech

Company pledges long-term support for tech-innovation after revenue jumps 81 per cent and net profit soars 228 per cent

The Shanghai- and Hong Kong-listed insurer recorded revenue of 434.3 billion yuan (US$64.6 billion), up 81.5 per cent year on year, according to interim results released on Thursday.

The company, the world’s largest life insurer by market value, attributed profit growth to business development with risk control, progress in product and business diversification, refined asset allocation and robust investment returns.

“Investment in areas related to new quality productive forces represents a key growth driver best positioned to deliver differentiated returns, and there lies broad potential for future investment and layout,” vice-president Liu Hui said at a press briefing in Beijing on Friday.