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China Life Insurance Company

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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]

China Life Insurance Company continues to operate in Russia as of 2025, despite the international sanctions imposed on the country following its invasion of Ukraine. The company's Russian offices remain active, and it has advertised for new employees in the region. This ongoing presence has raised ethical questions, as Russia's actions and war crimes in Ukraine,[7][8] including civilian casualties and infrastructure destruction, have been widely condemned.[9][10][11]

See also

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References

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  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.
  7. ^ "Ukraine: Torture by Russian authorities amounts to crimes against humanity, says UN Commission of Inquiry | United Nations in Ukraine". ukraine.un.org. Retrieved 3 January 2025.
  8. ^ S.A, Telewizja Polska. "Ukraine names Bucha massacre suspect". tvpworld.com (in Polish). Retrieved 3 January 2025.
  9. ^ Human rights groups collect evidence of Russian war crimes in Ukraine. 26 November 2024. Retrieved 3 January 2025 – via www.voanews.com.
  10. ^ "Over 400 companies have withdrawn from Russia - but some remain". Bizcommunity. Retrieved 3 January 2025.
  11. ^ "List of Finance Companies Leaving Russia | Coalition for Ukraine". www.coalitionforukraine.com. Retrieved 3 January 2025.
[edit]
  • Business data for China Life Insurance Company:
  • China Life Insurance official website
  • e-chinalife.com
  • [1]
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