China Life Insurance Company

China Life Insurance Company Limited
中国人寿保险股份有限公司
Company typePublic; State-owned enterprise
IndustryFinancial services
Founded1949; 76 years ago (1949) (as PICC)
Headquarters
Beijing
,
China
Area served
People's Republic of China
Key people
Dairen Lin (CEO), Chairman: Yang Mingsheng
ProductsLife & health insurance
RevenueDecrease US$ 139.6 billion (2023)[1]
Decrease US$ -841.2 million (2023)[1]
Total assetsUS$ 954.0 billion (2023)[1]
Owner
Number of employees
176,625 (2023)[1]
ParentChina Life Insurance Group
Websitechinalife.com.cn

China Life Insurance Company Limited (short China Life, simplified Chinese: 中国人寿保险; traditional Chinese: 中國人壽保險; pinyin: Zhōngguó rénshòu bǎoxiǎn) is a Beijing-headquartered China-incorporated company that provides life insurance and annuity products. China Life is ranked No. 94 on Fortune 2015 Global 500 Company list.[2] and is Chinese largest life insurer by market share, as of April 2023.[3] In 2023, the company was ranked 62nd in the Forbes Global 2000.[4]

In 2022, the company announced the de-listing of its American Depository Shares (ADS) and that the last day of trading was intended to be 1 September 2022. The underlying security of the ADS was the H shares, which would continue trading on the Stock Exchange of Hong Kong. The company cited limited trading volume in the ADS and administrative costs as the reasons for the de-listing.[5]

In 2023, China Life Insurance invested $3.5 billion in Honghu Private Securities Investment Fund. The same amount was invested by New China Life Insurance. The fund will aim to improve capital utilization efficiency and increase long-term investment assets.[6]

See also

References

  1. ^ a b c d "China Life Insurance". Fortune Global 500. Fortune. Retrieved 24 August 2024.
  2. ^ "China Life Insurance". Fortune. 21 July 2015. Archived from the original on 6 May 2016. Retrieved 18 May 2016.
  3. ^ "China Life Profit Rises as Industry Recovers After Pandemic". Bloomberg.com. 27 April 2023. Retrieved 8 May 2023.
  4. ^ "The Global 2000 2023". Forbes. Archived from the original on 29 January 2024. Retrieved 7 February 2024.
  5. ^ 王俊伟. "China Life Insurance Co announces delisting from US stock market". www.chinadaily.com.cn. Retrieved 10 June 2023.
  6. ^ "China's top insurers to launch US$7 billion fund to invest in onshore shares in sign of rising state support". South China morning Post. 30 November 2023. Archived from the original on 7 February 2024. Retrieved 26 February 2024.
  • Business data for China Life Insurance Company:
  • China Life Insurance official website
  • e-chinalife.com
  • [1]

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