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China Life Insurance Company Ltd.

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LFC.N

ISIN: US16939P1066
SEDOL: 2196963

Rating:

BUY

Target Price:

56.24 USD

Investment Horizon:

6 to 24 months
24th Apr 2009 View Report   Download

1Q 09 News Alert

China Life Insurance Company Ltd. (China Life) reported modest y-o-y growth in total revenues despite challenging economic and market conditions. We are encouraged by the company’s 1Q 09 performance and its reduced exposure to equity investments. Moreover, China Life maintains a strong solvency ratio and has achieved strong international credit ratings from various agencies. Our overall fundamental outlook for the company remains positive, and profits were stronger than…

26th Mar 2009 View Report   Download

FY 2008 Update Report

We are concerned by the ongoing impact of global economic slowdown on China. Weakness in global financial markets is also expected to impact investment income and realized losses on financial assets in the near to medium term. However, China Life has managed to increase its market share from 39.7% in FY 2007 to 40.3% in FY 2008 and continues to be the leading life insurer in China. Despite the economic slowdown, we expect China Life to continue to benefit from…

21st Jan 2009 View Report   Download

Company News Alert

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China Life Insurance Company Ltd. (China Life) has warned that FY 2008 net profit may decline by more than 50%. The decline in net profit is primarily attributable to the weakness in Chinese and global stock markets, along with higher claims due to natural disasters. The forecast decline is in line with our expectations. Our fundamental outlook for the company remains unchanged as we believe that the…

11th Dec 2008 View Report   Download

1H 08 Supplement Update

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China Life Insurance Company Limited (China Life) reported significant y-o-y growth in total revenues (referred to by the company as operating income) under PRC GAAP in 3Q 08....

29th Oct 2008 View Report   Download

3Q 08 News Alert

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Although China Life Insurance Company Ltd. (China Life) reported significant y-o-y growth in total revenues (referred to by the company as operating income) in 3Q 08, net income attributable to common shareholders fell significantly y-o-y, reflecting a decline in net investment income, losses on investments and higher expenses. In light of the current credit market conditions we are likely to reduce our estimates when we come to revalue…