China Life (SEHK:2628): Valuation Check After Surpassing RMB700 Billion in Gross Written Premiums

Premium milestone reshapes the investment backdrop

China Life Insurance (SEHK:2628) just crossed RMB700 billion in gross written premiums by the end of November 2025, a milestone that refines the stock’s appeal for investors focused on long term growth and income.

See our latest analysis for China Life Insurance.

The milestone is landing on a stock that already has strong momentum, with a roughly 21.8% 90 day share price return and a powerful year to date share price surge that backs up the multi year total shareholder return story.

If this kind of premium growth has you thinking about what else might be setting up for a strong run, it is worth exploring fast growing stocks with high insider ownership.

Yet with the shares now near analyst targets despite a steep intrinsic discount and powerful multi year returns, is China Life still trading below its true value, or is the market already pricing in the next leg of growth?

Most Popular Narrative Narrative: 100% Undervalued

With the narrative fair value at ¥28.58 versus a last close of HK$28.30, the story frames China Life as materially mispriced despite recent gains.

The analysts have a consensus price target of HK$23.551 for China Life Insurance based on their expectations of its future earnings growth, profit margins and other risk factors. However, there is a degree of disagreement amongst analysts, with the most bullish reporting a price target of HK$31.01, and the most bearish reporting a price target of just HK$14.24.

Read the complete narrative.

Want to know what justifies a richer future earnings multiple even as margins compress and profits shrink in nominal terms? Discover the growth math behind that stance.

Result: Fair Value of $28.58 (UNDERVALUED)

Have a read of the narrative in full and understand what's behind the forecasts.

However, stronger than expected premium growth and surging investment income could sustain earnings and margins, challenging the idea that profitability must compress so sharply.

Find out about the key risks to this China Life Insurance narrative.

Build Your Own China Life Insurance Narrative

If you see the story differently or want to dig into the numbers yourself, you can build a full view in minutes: Do it your way.

A great starting point for your China Life Insurance research is our analysis highlighting 4 key rewards and 2 important warning signs that could impact your investment decision.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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