China Life Insurance Co, Ltd.

NYSE:

HK:

LFC

2628

China Life Insurance (Group) Company is a large state-owned financial insurance enterprise. In 2019, its consolidated revenues reached RMB906.7 billion. Its consolidated premium income stood at RMB697.7 billion. And its consolidated assets surpassed RMB4.5 trillion.

China Life has been listed among "The Fortune Global 500" for 18 consecutive years, ranking 45th in 2020, a drastic increase compared with 290th in 2003. It has been included on the "World's 500 Most Influential Brands" list for 13 consecutive years, with a brand value standing at RMB 353.987 billion in 2019. After the dual-listing in New York and Hong Kong in December 2003, China Life Insurance Company Limited returned to China A share market in January 2007. It is the first insurance company triple-listed in New York, Hong Kong and Shanghai.

China Life's predecessor, PICC was founded in 1949 and the PICC (Life) Co., Ltd was set up in 1996 after its separation from the former PICC. In 1999, it was renamed China Life Insurance Company. Currently, the Group has China Life Insurance Company Limited, China Life Asset Management Company Limited, China Life Property & Casualty Insurance Company Limited, China Life Pension Company Limited, China Life Ecommerce Company Limited, China Life Insurance (Overseas) Company Limited, China Life Investment Holding Company Limited and Insurance Professional College as its subsidiaries. In 2016, China Life became the largest single shareholder of China Guangfa Bank, thus initiating a synergy layout among its insurance, investment, and banking businesses.

China Life has successfully built a corporate culture which centers on the concept of "Success for You, Success by You". It will push forward the "innovation-driven, comprehensive and world-class" development strategy, enhance its development drive, and expand its business presence, in a bid to serve the country's overall strategy. It will also accelerate its transformation, and upgrade its quality and efficiency, so as to build itself into a world-class financial insurance group.

Key Facts

Auditor

Public Listing

Domicile

HQ/Management

Location of Key Operations

IR Contact

Ernst & Young LLP

IPO (December 17, 2003)

China

Xicheng, Beijing, China

Yinghui Li, Internal

86-10-6363-1191

Analyst Coverage

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