China Life Insurance management indicated that it is also currently actively controlling the term of debt, and it is expected that the gap between assets and liabilities will continue to narrow during their lifetime.
The Zhitong Finance App learned that Goldman Sachs released a research report stating that it gave China Life Insurance (02628) a “buy” rating, with a target price of HK$14. Regarding investors' concerns about the risk of falling interest rates, Goldman Sachs pointed out that China Life Insurance management indicated that it is currently also actively controlling the debt period, and it is expected that the balance gap will continue to narrow during the life of the balance and liability.
According to the report, thanks to strong investment return performance, the company's net profit for the first quarter of this year exceeded the full-year forecast, and the value of the new business also exceeded the forecast, increasing by 26% year-on-year, mainly due to the shift in sales portfolios to premium products with higher profit margins; reduction in channel commissions; and reduction in interest accruals for dividend-based and universal products.