China Life, the nation's largest life insurer, said on Thursday night its net profit is estimated to grow at least 50 percent in 2009 from a year ago.

The sharp increase is boosted by strong gains in investment thanks to the bullish capital market last year, the company said in a preliminary report posted on the website of the Shanghai Stock Exchange before its annual report release.

The company's 2008 net profit was 10.07 billion yuan (1.47 billion U.S. dollars). Earnings per share was 0.36 yuan.