The first insurance company's third-quarter results "preview" is out: New China Life Insurance brings good news.

```

On the evening of October 13, New China Life Insurance (“NCI”) took the lead in releasing its third-quarter performance forecast.

Preliminary calculations before the official announcement of the third-quarter report indicate: This leading life insurance giant is expected to see its net profit attributable to the parent company increase by 9.306 billion to 13.442 billion yuan in the first three quarters of this year, representing a year-on-year growth of 45% to 65%.

Facing these positive results, NCI revealed in its announcement: The company’s investment income for the first three quarters of this year continued to grow significantly year-on-year, building upon last year's high growth. As a result, net profit for the first three quarters of 2025 saw substantial year-on-year growth.

It is evident that the “investment portfolio” of large insurance companies has a significant impact on the overall financial report.

Net Profit for First Three Quarters Up 45%-65% Year-on-Year

NCI disclosed: According to preliminary estimates, net profit attributable to shareholders of the parent company is expected to be 29.986 billion to 34.122 billion yuan for the first three quarters of 2025.

These net profit numbers for the first three quarters, compared with the same period in 2024, are expected to increase by 9.306 billion to 13.442 billion yuan, representing a year-on-year growth of 45% to 65%.

The announcement also disclosed another financial indicator—the net profit attributable to shareholders of the parent company after deducting non-recurring gains and losses. For the first three quarters of 2025, this is projected at 28.998 billion to 33.141 billion yuan. Compared with the same period in 2024, it is expected to increase by 8.285 billion to 12.428 billion yuan, a year-on-year rise of 40% to 60%.

Generally speaking, the core of this indicator lies in “deducting non-recurring gains and losses,” which excludes one-off or incidental gains or losses and can more accurately reflect the company’s sustained profitability and operational efficiency from its main business.

It is important to note: The above forecast data is only preliminary; the specific and accurate financial data will be subject to the official 2025 third-quarter report disclosed by the company.

Behind the Performance Growth: Significant Increase in Investment Income

NCI disclosed the main reasons for the expected performance growth in the first three quarters of 2025:

Firstly, the company focused on the growth of insurance business value and quality enhancement, upgraded its strong foundation initiatives, strengthened institutional management and the autonomous operational capabilities of its teams, and comprehensively managed the insurance liability side in terms of products, services, teams, ecosystem, technology, and operations, accelerating the transformation of participating (dividend) insurance.

Secondly, taking full advantage of insurance funds as “long-term capital, patient capital, and strategic capital,” actively responded to the call for insurance funds to enter the market, continuously optimized asset allocation structure, increased allocation to high-quality underlying assets capable of resisting low interest rate challenges, and consolidated the foundation for long-term returns.

Thirdly, the Chinese capital market stabilized and improved in the first three quarters, resulting in the company’s investment income for the first three quarters of 2025 continuing to grow significantly year-on-year, building on last year's high growth, thereby facilitating a substantial year-on-year increase in net profit for the first three quarters of 2025.

Risk Disclosure and DisclaimerThe market carries risks; investment must be made cautiously. This article does not constitute personal investment advice and does not take into account the special investment objectives, financial circumstances, or needs of individual users. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their particular circumstances. Investment made accordingly is at your own risk. ```