Jan. 30, 2007 (China Knowledge) – China Life<601628><2628><LFC>, the world’s second-largest insurer, said its net profit in 2006 is expected to increase by 50%, according to a company statement issued Tuesday.

The expected results had not been independently pre-audited, and detailed figures would soon be released in the audited 2006 annual report, the company said.

As the country’s largest life insurer, premium income last year went up by 14.2%. The unaudited figure for 2006 rose to RMB 183.8 billion. The report cited rapid business expansion and sound momentum in the capital market as reasons for the boost in revenue in 2006.

China Life plays a dominant role in the country’s life insurance market. Its premium income reached RMB 160.95 billion in 2005, accounting for 44.1% of the total life insurance premium collected in China.