According to a research report released by Morgan Stanley, China Life Insurance's net profit for the first three quarters will reach about 1.1.135 billion yuan to 1,8.767 billion yuan, an increase of about 165% to 185% over the previous year, exceeding the bank's and market expectations.
This increase is based on the same new accounting rules, which means net profit for the third quarter was 630 to 71 billion yuan, compared to a net loss of 0.6 billion yuan for the same period last year. Quarterly earnings should reach record highs, and growth was mainly driven by a rebound in the stock market. The profit for the third quarter alone has reached 2.2 to 2.4 times the profit for the full year of 2023.
Dama estimates that China Life Insurance's dividend may increase significantly throughout the year, but the dividend ratio may not remain at the same high level.
