New China Life Insurance Company Ltd. (SSE: 601336; SEHK: 01336) released its interim results on August 26, revealing steady growth across key metrics. During the first half of the year, the company generated original insurance premium income of 129.57 billion yuan, marking a 6.9% year-on-year increase.

Breaking down the premium structure, first-year regular premiums from long-term policies climbed 27.7% to 32.612 billion yuan. Notably, premiums from policies with terms of ten years or more surged 132.1% to 2.853 billion yuan, while renewal premiums grew 12.2% to 88.461 billion yuan. These figures underscore a continued shift toward higher-quality, longer-duration business.

As of June 30, 2026, the company's embedded value stood at 310.384 billion yuan, up 7.8% from the end of the previous year. New business value for the half-year period reached 6.916 billion yuan, an 11.9% improvement year-on-year. The new business value margin, calculated on a first-year premium basis, rose 2.3 percentage points to 17.2%, reflecting enhanced profitability.

Operationally, the insurer saw its regular premium business expand further. First-year regular premiums from long-term policies accounted for 85.2% of total first-year long-term premiums, a significant 20.8-percentage-point improvement from the prior-year period. In the second quarter, premiums from policies with terms of ten years or more made up 20.9% of first-year regular long-term premiums. Renewal premiums constituted 68.3% of total premium income, demonstrating a stable and sustainable business mix.