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China Life Insurance Co. Ltd.

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China Life’s net profit attributable to equity holders of the company was RMB 6.2 billion (US$ 923.7 million) that grew 17% year over year  primarily driven by 23.5% growth in net operating income. The earnings outperformance is primarily attributable to the company’s revenue growth of nearly 22%. The company’s robust market position and organic growth initiatives are encouraging. Its operational efficiency is also reflected by its product upgrades and premium growth over the last few quarters. Year to date, the company’s shares have gained 24% compared with 14% increase of the Zacks categorized Life Insurance industry. However, the company suffers from rising administrative expenses that have been pushing the bottom line down over last few quarters. Also, the company is adversely affected by increasing operating expenses and foreign exchange volatility.

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