China Life Insurance Co. moved up 20 spots to become the world's second-biggest insurer in terms of market value after its yuan-denominated shares more than doubled in their trading debut yesterday.

The Beijing-based insurer's A-shares closed at 38.93 yuan (4.95 U.S. dollars) on the Shanghai Stock Exchange after climbing to an intraday high of 40.2 yuan. The insurer's Hong Kong shares ended 4.7 percent lower at 25.6 HK dollars (3.28 USD) yesterday. The company is also listed on the New York Stock Exchange.