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Listed Company in China

China Life Insurance Co., Ltd. (601628)

Date:2021-03-21 View:303

China Life Insurance Co., Ltd. is a leading enterprise in the domestic life insurance industry, headquartered in Beijing, with a registered capital of 28.265 billion yuan. As a core member of China Life Insurance (Group), one of the Fortune Global 500 companies and the world's top 500 brands, the company has won the trust of a wide range of social customers with its long history, strong strength, professional leading competitive advantage and world-famous brand. It has always occupied the leading position in the domestic life insurance market and is known as the "mainstay" of China's insurance industry .

have a long history

The predecessor of China Life Insurance is the same age as that of the people's Republic of China. It was established with the approval of the central government in October 1949. It is one of the earliest insurance companies in China and shoulders the important task of explorer and pioneer of China's life insurance industry. In the long-term development process, the company has a stable professional management team, accumulated rich management experience, and is well versed in the domestic life insurance market. On December 17 and 18, 2003, China Life Insurance Co., Ltd. was listed in New York and Hong Kong respectively. On January 9, 2007, China Life Insurance Company Limited returned to the domestic A-share listing. Since then, the company has become the first financial and insurance enterprise in China to be listed in three places.

On January 9, 2007, China Life Insurance Co., Ltd. returned to the domestic A-share listing, and since then, the company has become the first financial and insurance enterprise in China to be listed in three places.

On December 17 and 18, 2003, China Life Insurance Co., Ltd. was listed in New York and Hong Kong respectively.

On June 30, 2003, China Life Insurance Group Co., Ltd. was restructured into China Life Insurance Group Co., Ltd.

In January 1999, China Life Insurance Company was established with the approval of the State Council.

In 1996, China Life Insurance Co., Ltd. was established, and China Life Insurance began to enter the era of professional management of life insurance business.

In October 1949, the central government approved the establishment of the first insurance company in China, which opened the first year of the development of China Life Insurance.

fully reinforced

After long-term development and accumulation, China Life Insurance has strong strength. As of 2019, China Life Insurance (Group) Corporation has been selected as "Fortune 500" for 17 consecutive years. As a core member of China Life Insurance (Group) Corporation, as of December 31, 2019, the total assets of China Life Insurance Co., Ltd. reached 3726.734 billion yuan, ranking first in the domestic life insurance industry. In 2019, the company achieved a premium income of 567.086 billion yuan, a year-on-year increase of 5.8%, and continued to maintain the leading position in the industry. The company's embedded value reached 942.087 billion yuan, an increase of 18.5% over the end of 2018. The core solvency adequacy ratio and comprehensive solvency adequacy ratio were 266.71% and 276.53% respectively. The first-year premium of the company reached 109.416 billion yuan, accounting for 97.89% of the first-year premium of long-term insurance, with a year-on-year increase of 7.73 percentage points. The first-year premium of 10 years and above reached 59.168 billion yuan, with a year-on-year increase of 42.1%, accounting for 54.08% of the first-year premium, with a year-on-year increase of 14.21 percentage points. The renewal premium reached 385.797 billion yuan, with a year-on-year increase of 5.8%, accounting for 68.03% of the total premium. By the end of 2019, the total market value of the company will reach US $124.913 billion.

Brand excellence

China Life Insurance has been committed to building a world-class financial and insurance brand. Through long-term and continuous brand building, China Life Insurance has become one of the world's well-known brands, and its brand value and brand influence have been continuously improved. As of December 31, 2019, the brand of China Life Insurance has been selected into the "top 500 world brands" released by world brand lab for 13 consecutive years, ranking 132nd, and ranked the "most valuable brand of China 500 in 2019 (the 16th session)" of world brand lab, ranking 5th The brand value reached 353.987 billion yuan, up 28.615 billion yuan from last year.

Professional leadership

China Life Insurance Co., Ltd. has always maintained a significant competitive advantage in the life insurance industry, and the premium income continues to maintain a leading position in the market. The company has a strong product R & D and innovation capabilities, and constantly enrich the connotation of insurance products and services. The investment operation of the company is highly specialized, and it is one of the large domestic institutional investors. Through holding China Life Asset Management Co., Ltd., the company has become the leading insurance asset manager in China. In 2019, the company's investment assets reached RMB 3574.928 billion, an increase of 15.1% over the end of 2018. In 2019, the company continued to optimize the asset allocation strategy, and the investment income increased significantly. As of December 31, 2019, the total investment income of the company is RMB 169.043 billion, which is 77.7% higher than that of 2018. The company actively uses artificial intelligence, big data, Internet of things and other advanced technologies to empower the whole insurance value chain, continuously promotes the upgrading of the customer-centered insurance sales mode, continuously deepens the one-stop comprehensive financial and insurance services for customers, optimizes the whole chain service process, speeds up the construction of "one customer, one national life" platform, and speeds up the operation service to intensive and intelligent Ecological transformation and upgrading, and the initial establishment of an "insurance +" ecosystem.

China Life Insurance Co., Ltd. provides life, annuity, health and accidental injury insurance products to individuals and groups, covering survival, pension, disease, medical treatment, death, disability and other insurance coverage, fully meeting customers' insurance protection and investment and financing needs in the field of life insurance. As of December 31, 2019, the company has about 303 million valid long-term individual and group life insurance policies, annuity contracts and long-term health insurance policies, providing insurance services for more than 500 million customers.

China Life Insurance Co., Ltd. adheres to the service concept of "honesty and trustworthiness, customer first", relies on the service network covering the country's urban and rural areas, is committed to building a mobile, intelligent and social customer service system, and uses scientific and technological means to provide convenient insurance services for the public. Professional and efficient 95519 customer service line, safe and fast enterprise Internet website, 1613000 personal insurance channel sales personnel, 166000 bancassurance channel sales personnel, 65500 group insurance sales personnel, make the company become a life insurance service provider around customers. The company implements the talent strategy of "introducing talents by mechanism, using talents by system, training and cultivating talents, and retaining talents by environment", adheres to the talent concept of "people-oriented, integrity and ability", and focuses on cultivating the staff with excellent quality and matching the needs of world-class life insurance companies.

social responsibility

China life has always adhered to the core concept of corporate culture of "becoming a person and becoming an adult". It attaches great importance to social responsibility management, actively serves the overall situation of economic and social development, and at the same time of realizing the company's high-quality development, it actively undertakes social responsibility and is determined to become an excellent corporate citizen.

L always unswervingly respond to the call of the state, implement the national strategic plan, serve the overall situation of national economic development, and fulfill the responsibilities of state-owned enterprises. Actively participate in the one hand coordinated development of one area, one belt, one road, and the other in the area. The implementation of the "one belt and one road" initiative has put forward the requirements for the coordinated development of the service area and the real economy, and launched the COSCO Shipping debt investment plan, the Eastern Air debt investment plan, the Chengdu rail transit debt investment plan and the Guangxi investment bond investment plan. Insurance investment plays a positive role in serving the major national strategies.

Actively implement the national targeted poverty alleviation strategy, based on the unique advantages of insurance poverty alleviation, give play to the main role of insurance poverty alleviation, and implement a series of poverty alleviation measures such as business poverty alleviation, industrial poverty alleviation, e-commerce poverty alleviation and public welfare poverty alleviation. In 2019, there are 19 poverty alleviation insurance products on sale. The total amount of compensation for serious illness insurance for the poor in the whole year is more than 3 billion yuan, and 590 million yuan for the poor households who set up files and set up cards. In 2019, China Life Charity Foundation donated 24.9465 million yuan to four designated poverty alleviation counties, including Longzhou and Tiandeng in Guangxi, Yunxi and Danjiangkou in Hubei, and big six town in Inner Mongolia. In 2019, China life has donated 187 million yuan.

L pull together in times of trouble in early 2020, in the face of New Coronavirus pneumonia. At the same time, we expanded the scope of liability of 34 insurance products, upgraded the claim service, issued a series of preferential policies to deal with the epidemic situation, and 95519 contact center realized the nationwide non workplace home office to ensure that the remote interactive service "does not leave" during the epidemic period ”"Non stop" and "non-stop" contribute to the fight against the epidemic, and highlight the social responsibility and responsibility of central enterprises.


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