China Life Insurance Co. reaped a 31 percent rise in insurance income to 209.7 billion yuan ($27 billion) and boosted its market share by almost seven percentage points in 2006.

The leading Chinese life insurer also boasted total assets of 910 billion yuan at the end of 2006, the official Financial News said, quoting company president Yang Chao. Assets were 521.8 billion yuan a year earlier. China Life shares more than doubled in their Shanghai debut on after a $3.6 billion initial public offering, thanks to the fact that it was the first insurance stock to list on the domestic market.

China Life's closing price on last Tuesday valued it at $141 billion, making it the world's third-biggest insurer after American International Group Inc. at $185 billion and Berkshire Hathaway Inc. at $165 billion.