China Life’s Robust Agent Force Expansion Led to Strong Top-Line Growth
China Life’s 2016 net profit fell 44.9% as total investment returns dropped 19% from 2015 on disappointing market performance. Apart from the weak investment returns, the life insurance business saw strong top-line growth and improving underwriting profitability, stemming from favorable industry dynamics and the company’s strategic transformation toward an agent-focused distribution network with higher sales from long-term protection products. Along with industry peers, China Life lowered its lo...
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