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China-focused, pure-play life and health insurer distributing through agents and bank partnerships.
China-focused, pure-play life and health insurer distributing through agents and bank partnerships.
Collects premiums on long-term life, health and savings policies and invests the money until benefits are due, so investment income matters alongside underwriting. Agents and bank branches sell the policies. This is the Hong Kong-listed share class of the Shanghai-listed company, with the state investment arm Central Huijin as largest shareholder.
In one line: A pure-play Chinese life insurer.
Moat: narrow (brand, distribution). Established agent and bancassurance distribution network, without P&C diversification.
Headquarters: Beijing, China · Founded: 1996 · Employees: 27,726
Size New China Life Insurance (1336.HK) is a Hong Kong Financials company (Multi-Line Insurance) with a market value of $21.5B, the 80th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$39.86 on 6 Nov 2026.
Performance Over six months the shares fell 24.2%, against +11.3% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — lowest of 21 in its peer set.
Growth Revenue grew 44.4% over the last twelve months (peer median +6.5%); the operating margin is 31.2% (peer median 9.4%).
Valuation It trades at 0.87× book value against a peer median of 1.68× (2nd cheapest of 21).
Price implies The share price implies a return on equity of about 10.3%; New China Life Insurance delivers 42.3%, so the price asks less than the business earns today.
Next results Next results expected around 1 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$180B | HK$146B | HK$105B | HK$108B | HK$149B |
| Revenue growth | — | +39% | -3% | -27% | — |
| Net income | HK$49.5B | HK$39.4B | HK$28.4B | HK$9.63B | HK$25.0B |
| Free cash flow | HK$180B | HK$170B | HK$150B | HK$143B | HK$149B |
| Capital expenditure | HK$1.61B | HK$1.61B | HK$1.19B | HK$2.31B | HK$2.08B |
| Total debt | n/a | HK$239B | HK$216B | HK$141B | HK$61.2B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| New China Life Insurance 1336.HK | $21.5B | -24% | +44% | 42% | 0.87× | 10.3% |
| China Pacific Insurance (Group) 2601.HK | $42.5B | -22% | +9% | 14% | 0.69× | 8.4% |
| China Life 2628.HK | $134B | -17% | +38% | 41% | 0.93× | 10.0% |
| Ping An 2318.HK | $138B | -17% | -8% | 10% | 0.79× | 9.7% |
| China Taiping Insurance 0966.HK | $8.28B | -24% | +19% | 36% | 0.63× | 8.1% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 1336.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -9.9% | +4.0% | 2nd lowest of 21 |
| 6-month return | -24.2% | +11.3% | lowest of 21 |
| Return on equity | 42.3% | 15.7% | highest of 21 |
| Price / book | 0.87× | 1.68× | 2nd cheapest of 21 |
| Trailing P/E | 2.5× | 11.7× | cheapest of 20 |
| ROE the price implies | 10.3% | 10.9% | 10th least demanding of 21 |
| ROE delivered | 42.3% | 14.6% | highest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| New China Life Insurance 1336.HK | Hong Kong | $21.5B | -24% | +44% | 42% | 0.87× | 10.3% | 42.3% |
| Legal & General LGEN.L | United Kingdom | $21.9B | +24% | +137% | 26% | 7.73× | 70.7% | 26.2% |
| Unipol Assicurazioni UNI.MI | Italy | $23.8B | +13% | +7% | 17% | 1.62× | 14.9% | 16.9% |
| ASR Nederland ASRNL.AS | Netherlands | $17.3B | +14% | +6% | 13% | 1.74× | 8.3% | 13.1% |
| Helvetia Baloise HBAN.SW | Switzerland | $27.0B | +5% | +54% | 4% | 1.80× | 4.8% | 4.0% |
| W. R. Berkley WRB | United States | $27.9B | +16% | +1% | 19% | 2.91× | 12.8% | 19.2% |
| Cincinnati Financial CINF | United States | $28.5B | +15% | +10% | 17% | 1.76× | 10.6% | 16.9% |
| Powszechny Zaklad Ubezpieczen Spolka Akcyjna PZU.WA | Poland | $16.1B | +15% | +1% | 20% | 1.83× | 19.5% | 19.5% |
| Aviva AV..L | United Kingdom | $29.5B | +18% | +86% | 7% | 2.46× | 23.8% | 6.8% |
| Prudential 2378.HK | Hong Kong | $30.8B | -24% | +30% | 19% | 1.54× | 11.3% | 19.3% |
| Brookfield Wealth Solutions BNT.TO | Canada | $14.9B | -8% | -18% | 1% | 0.70× | 9.4% | 0.7% |
| Suncorp SUN.AX | Australia | $14.9B | +21% | -3% | 10% | 2.08× | 11.7% | 9.8% |
| Gjensidige Forsikring GJF.OL | Norway | $14.7B | +9% | +7% | 30% | 5.73× | 19.1% | 29.9% |
| Prudential plc Sponsored ADR PUK | United States | $31.7B | -21% | +39% | 19% | 1.56× | 11.4% | 19.2% |
| Mapfre MAP.MC | Spain | $14.1B | -2% | +5% | 12% | 1.26× | 8.4% | 12.4% |
| CNA Financial CNA | United States | $12.8B | +9% | +2% | 10% | 1.25× | 7.2% | 9.6% |
| Aegon AGN.AS | Netherlands | $12.7B | +4% | +16% | 10% | 1.25× | 8.2% | 10.5% |
| Arch Capital ACGL | United States | $36.6B | +14% | -5% | 19% | 1.58× | 8.3% | 18.7% |
| Unum UNM | United States | $12.2B | -5% | -5% | 3% | 1.52× | 8.1% | 2.6% |
| Globe Life GL | United States | $12.1B | +4% | +6% | 21% | 2.08× | 11.7% | n/a |
| Sompo 8630.T | Japan | $39.6B | +17% | +41% | 15% | 1.14× | 6.2% | 14.6% |