China Life Insurance (2628) said its net profit surged fourfold to 58.28 billion yuan (HK$63.67 billion) in 2019 from a year before.
Revenue rose 16.3 percent year-on-year to 729.4 billion yuan last year, declaring a final dividend of 0.73 yuan per share.
Net premiums earned rose 5.3 percent year-on-year to 560.27 billion yuan in 2019, with the value of one year's sales rising 18.6 percent year-on-year to 58.69 billion yuan. Gross investment income rose 77.7 percent to 169 billion yuan last year.
China Life Insurance said the pandemic will impact business in the short term.
Meanwhile, New China Life Insurance (1336) said net profit rose 83.8 percent to 14.55 billion yuan in 2019 from a year before. Revenue rose 13.3 percent to 172 billion yuan last year. It declared an annual dividend of 1.41 yuan per share.
Gross written premiums and policy fees rose 13 percent to 138.17 billion yuan in 2019 from a year before.
China Life Insurance shares yesterday rose 7.49 percent to HK$15.22 and New China Life Insurance 6.68 percent to HK$23.95.