HK Stock Market Move | China Life Insurance (02628) rises more than 3%, Net profit in the third quarter nearly doubles compared to the same period last year, and the growth rate of new business value has significantly increased.

China Life Insurance (02628) rose more than 3%, as of the time of writing, it rose by 3.32% to HK$25.5, with a total turnover of HK$5.68 billion. On the news front, China Life Insurance recently announced its third quarter performance for 2025. CMB International pointed out that China Life Insurance's performance in the third quarter of this year is impressive, with net profit nearly doubling to 126 billion yuan on a high base of last year, an increase of 92% year-on-year, driving the net profit for the first nine months to increase to 167.8 billion yuan, a year-on-year growth of 61%. The company's third quarter profit growth is better than its peers, mainly benefiting from the dual-drive of the growth in insurance services and investment services performance. The bank further stated that China Life's new business value for the first three quarters grew by 41.8% on a comparable basis, significantly higher than the 20.3% growth in the first half of the year. The bank expects the comparable basis new business value in the third quarter to double, with first year new single premiums increasing by 53% year-on-year, and value rates continuously improving under the downward adjustment of interest rates and product structure adjustment. Looking ahead to the fourth quarter, the low base effect of the significant decline in interest rates in the same period last year may drive profit growth.