China Life’s shift to government bonds pays off

China Life Insurance posted a 15.2% rise in investment assets to Rmb4.7 trillion ($738 billion) in 2021 as it increased allocation to government bonds and sold off equity assets.  Net investment yield was 4.38%, and net investment income was Rmb188.8 billion, a 16% increase from 2020, the company said in a statement on Friday (March 25) announcing its annual results. The firm’s allocation to bonds rose from 41.97% in 2020 to 48.20% in 2021, while the percentage of its investment…