China Life Insurance reported a 2014 net profit of 32.2bn RMB ($5.19bn), a 30% increase on the 24.7bn RMB it made in 2013 as it profited from the Chinese stock market and diversified its investment portfolio.
Investment income rose 13% from 82.8bn RMB in 2013 to 93.5bn RMB last year.
The Beijing-based company said that it had "actively responded to the capital market by continuously diversifying investment products and channels and optimising asset allocation structure". China Life added that it had increased its allocations to equity, other financial products and high-grade credit bonds.
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Companies:China Life Insurance