Chinese insurer China Life Insurance reports 8.2% profit growth

China Life Insurance Co., which is one of China's largest insurers, reported business turnover growth for the first quarter of the year on an annualized 8.2%, Xinhua news agency reported on April 26. The company's turnover amounted to 337.8 billion yuan (about $47.7 billion), while net profit amounted to 17.1 billion yuan, down 34.4% from the figures a year earlier. The total premium income of the company reached 307.8 billion yuan during this period, which is 14% more than in the same period of 2019. The company's core business revenue continued its steady growth, sustaining a steady development momentum in the first quarter despite an epidemic of the new coronavirus.