China Life Insurance Co looking for global investment prospects

China Life Insurance Company Ltd, one of the country's largest life insurers, will still look for potential investment opportunities globally, its top management said on Friday.

"In the long run, it is still highly necessary to make assets allocation globally though choices are restricted under the current managed foreign exchange regime. And we will work on the investment plan according to relevant policies and strengthened risks management," said Zhao Peng, vice-president of China Life.

So far, the company has holdings of $12 billion assets in overseas investment, among which 18 percent were managed by overseas asset management companies.

Meanwhile, China Life's recent bid for a stake in Wanda Information and China Pacific Insurance are mainly for financial investment, Zhao added.

China Life's net profit attributable to equity holders jumped 128.9 percent year-on-year to 37.6 billion yuan in the first half of 2019, thanks to the improved investment performance in the capital market, according to its interim report. Its gross investment yield stood at 5.78, up 200 basis points on a yearly basis.

Ou Zhen contributed to this story