China Life Insurance Company Limited

China Life Insurance (Group) Corporation

China Life Insurance (Group) Corporation (hereinafter referred to as China Life Insurance) is a central financial enterprise. It is a state-owned super large financial and insurance enterprise. Its headquarters is set up in Beijing. It is one of the world's top 500 enterprises and China's top 500 brands. It is a central financial enterprise. The predecessor of the company is the former people's Insurance Company of China, which was established in 1949. In 1996, it was established as China Life Insurance Co., Ltd. and in 1999, it was renamed as China Life Insurance Company. In 2003, with the approval of the State Council and the former China Insurance Regulatory Commission, the former China Life Insurance Company was restructured and changed to China Life Insurance (Group) company.

China Life Insurance (Group) Corporation and its subsidiaries constitute the largest state-owned financial and insurance group in China, and are also important institutional investors in China's capital market. The business scope covers life insurance, property insurance, enterprise and occupational annuity, banking, fund, asset management, wealth management, industrial investment, overseas business and other fields.

In 2020, the combined business income of the group will be nearly 1 trillion yuan, the combined premium income will exceed 750 billion yuan, the combined total assets will exceed 5 trillion yuan, and the combined third-party assets will be 1.8 trillion yuan, which will continue to maintain a historical high. In 2020, China Life Insurance Group ranks 45th among Fortune Global 500 and 127th in the world brand lab's list of world top 500, with a brand value of 415.861 billion yuan, continuously leading China's financial and insurance enterprises.

Group composition

China Life Insurance (Group) Co., Ltd. has eight first tier subsidiaries, namely China Life Insurance Co., Ltd., China Life Asset Management Co., Ltd., China Life Property Insurance Co., Ltd., China Life Endowment Insurance Co., Ltd., China Life e-commerce Co., Ltd., China Life Insurance (Overseas) Co., Ltd. and China Life Insurance Investment Co., Ltd Holding Co., Ltd., Guoshou Health Industry Investment Co., Ltd., as well as a national joint-stock bank Guangfa bank and an affiliated college insurance vocational college.

Group headquarters

China Life Insurance (Group) Corporation is a large state-owned financial and insurance enterprise, one of the largest institutional investors in China's capital market, headquartered in Beijing. The predecessor of the company is the former people's Insurance Company of China, which was established in 1949. In 1996, it was established as China Life Insurance Co., Ltd. and in 1999, it was renamed as China Life Insurance Company. In 2003, with the consent of the State Council and the approval of China Insurance Regulatory Commission, the original China Life Insurance Company was restructured and changed to China Life Insurance (Group) company.

China Life Insurance (Group) Corporation has eight first-class subsidiaries and one affiliated university. The business scope covers life insurance, property insurance, enterprise and occupational annuity, banking, fund, asset management, wealth management, industrial investment, overseas business and other fields. At the same time, it enters securities, trust, futures, real estate and other industries through strategic equity participation. In 2020, the combined business income of China Life Insurance Group will be nearly 1 trillion yuan, the combined premium income will exceed 750 billion yuan, the combined total assets will exceed 5 trillion yuan, and the combined third-party assets will be 1.8 trillion yuan, which will continue to maintain a historical high. On December 23, 2020, the asset management scale of China life insurance asset management company exceeded 4 trillion yuan, thus becoming the first insurance asset management company in China with assets under management exceeding 4 trillion yuan. It has more than 20000 branches and outlets, more than 4000 customer service centers, more than 2 million employees and sales teams in 36 provinces, autonomous regions, municipalities directly under the central government, cities under separate state planning and two special administrative regions. It also has branches and representative offices in Hong Kong, Macao, Singapore, Indonesia, London and New York, providing insurance and wealth management services to 690 million customers Management and other services.

After listing in New York and Hong Kong in December 2003, its life insurance company returned to the domestic A-share market in January 2007. It is the first insurance company listed in New York, Hong Kong and Shanghai.

China Life Insurance has been selected into fortune 500 for 18 consecutive years, ranking from 290 in 2003 to 45 in 2020; it has been selected into "top 500 Chinese enterprises" by China Enterprise Federation and China Entrepreneur Association for 19 consecutive years, ranking 11th in 2019; its brand value will reach RMB 415.861 billion in 2020.

Looking forward to the future, China Life Insurance will spare no effort to promote innovation driven, adhere to the new development concept, adhere to high-quality development, accelerate the formation of a good situation with outstanding comprehensive business characteristics, strong scientific and technological innovation ability, basically forming an international layout, stable leading position in the core main business market, excellent ability to serve national strategy and global competitiveness, and strive to build an international first rate gold mine Financial insurance group's strategic goal!

Subordinate enterprises

As a comprehensive financial insurance group, China Life Insurance (Group) company's subordinate enterprises are introduced as follows:

China Life Insurance Company Limited is a leading enterprise in the domestic life insurance industry, with a registered capital of 28.265 billion yuan. As a core member of China Life Insurance (Group), one of the Fortune 500 and top 500 brands in the world, the company has won the trust of the most extensive customers in the society with its long history, strong strength, professional leading competitive advantage and world-famous brand. It has always occupied the leading position in the domestic insurance market and is known as the "mainstay" of China's insurance industry ”。

China Guangfa Bank Company Limited, founded in 1988, is one of the first joint-stock commercial banks in China. In 2016, China Life Insurance became the single largest shareholder of Guangfa bank. Guangfa bank adheres to the core values of "integrity, responsibility, innovation and dedication", keeps in mind the historical mission of "serving customers, repaying shareholders, achieving employees and contributing to the society", practices the service concept of "knowing each other and serving you wholeheartedly", and strives to achieve the strategic goal of "national first-class commercial bank".

China Life Insurance Asset Management Company Limited is one of the largest institutional investors in the domestic capital market and an important participant in the money market. It plays an important role in China's stock market, fund market and bond market. At present, he has the qualification of "full license" in the field of asset management, and has been involved in many fields, such as open markets at home and abroad, public funds, alternative investment and so on.

China Life Property & Casualty Insurance Co, Ltd) is a national specialized property insurance company, which fully relies on the comprehensive operation advantages of China Life Group and actively adapts to the "new normal" of economic development. It has steadily grown into the main body of property insurance market with strong competitiveness and influence, and its comprehensive strength ranks in the forefront of property insurance industry.

China Life Pension Company Limited is a national professional pension insurance company with the strongest strength, the widest service network and the highest degree of specialization in China. It has the qualifications of trustee, account manager and investment manager of enterprise annuity fund approved by the Ministry of human resources and social security. The company participates in the construction of the three pillars of the old-age security system in an all-round way and is a leading enterprise in the insurance industry.

China Life e-commerce Company Limited was established in Beijing on December 6, 2013. It is a first-class subsidiary wholly-owned by China Life Insurance (Group) Corporation. It is the first e-commerce company formally established in the domestic insurance industry after the State Council issued several opinions on promoting information consumption and expanding domestic demand.

China Life Insurance Overseas Co., Ltd., based in Hong Kong and Macao, is an international window for China life to expand its overseas business. It has 25 years of operation history in Hong Kong and 30 years of operation history in Macao. It is the largest state-owned life insurance company in Hong Kong and Macao and the only professional life insurance company named "China". Our business covers life insurance, investment and trust, providing high quality products and services for overseas customers.

China Life Investment Holding Company Limited is a professional alternative investment management company under China Life Insurance (Group) company. Its business scope covers equity investment, medical and health investment, pension investment, real estate investment, infrastructure investment, asset and enterprise management, etc. In recent years, the investment performance and investment brand are in the forefront of the industry, becoming the practitioner of value investment and the leader of domestic alternative investment industry.

China Life healthcare Investment Company Limited is a professional investment company of China Life Insurance (Group) company

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