China Life Insurance (Group) Company

SynonymChinaLifeInsurancegenerallyreferstoChinaLifeInsurance(Group)Company

GroupComposition

RealshotsofChinaLifeBuilding(8photos)

Theinsurance(group)companyhas8primarysubsidiaries,namelyChinaLifeInsuranceCo.,Ltd.,ChinaLifeAssetManagementCo.,Ltd.,ChinaLifePropertyInsuranceCo.,Ltd.,ChinaLifePensionInsuranceCo.,Ltd.,andChinaLifeE-CommerceCo.,Ltd.,ChinaLifeInsurance(Overseas)Co.,Ltd.,ChinaLifeInvestmentHoldingsCo.,Ltd.,ChinaLifeHealthIndustryInvestmentCo.,Ltd.,aswellasanationaljoint-stockbank,GuangfaBank,andanaffiliatedcollegeandinsurancevocationalcollege.

GroupHeadquarters

ChinaLifeInsurance(Group)Companyisalargestate-ownedfinancialandinsurancecompanyandoneofthelargestinstitutionalinvestorsinChina’scapitalmarket.ItsheadquarterislocatedinBeijing.ThepredecessorofthecompanywastheoriginalPeople'sInsuranceCompanyofChina,whichwasestablishedin1949.ItwasdividedintoChinaLifeInsuranceCo.,Ltd.in1996andwasrenamedChinaLifeInsuranceCompanyin1999.In2003,withtheapprovaloftheStateCouncilandtheChinaInsuranceRegulatoryCommission,theoriginalChinaLifeInsuranceCompanywasreorganizedandrestructuredandchangedtoChinaLifeInsurance(Group)Company.

ChinaLifeInsurance(Group)Companyhas8primarysubsidiaries,and1affiliatedcollege.Thebusinessscopecoverslifeinsurance,propertyinsurance,corporateandoccupationalannuities,banking,funds,assetmanagement,wealthmanagement,industrialinvestment,overseasbusinessandotherfields.Atthesametime,itenterssecurities,trust,futures,realestateandotherindustriesthroughstrategicequityparticipation.In2020,ChinaLifeGroup'sconsolidatedoperatingincomewillbenearly1trillionyuan,consolidatedpremiumincomewillexceed750billionyuan,totalconsolidatedassetswillexceed5trillionyuan,andthird-partyassetsunderconsolidatedmanagementwillbe1.8trillionyuan,maintainingahistoricalhigh.OnDecember23,2020,ChinaLifeAssetManagementCompany'sassetmanagementscaleexceeded4trillionyuan,makingitthefirstinsuranceassetmanagementcompanyinChinatomanageassetsexceedingthe4trillionmark.Therearemorethan20,000branchesandoutlets,morethan4,000customerservicecenters,morethan2millionemployeesandsalesteamsin36provinces,autonomousregions,municipalitiesdirectlyundertheCentralGovernment,citiesunderseparatestateplanning,and2specialadministrativeregionsacrossthecountry.BranchesandrepresentativeofficesinMacau,Singapore,Indonesia,London,andNewYorkhaveprovidedinsuranceprotectionandwealthmanagementservicesto690millioncustomers.

FollowingthesimultaneouslistingofitsownlifeinsurancecompanyinNewYorkandHongKonginDecember2003,itreturnedtothedomesticA-sharemarketinJanuary2007.Itisthe“firstinsurancestock”andtheNo.AninsurancecompanylistedinNewYork,HongKongandShanghai.

ChinaLifehasbeenselectedasaFortuneGlobal500companyfor19consecutiveyearsandranked32ndin2021;ithasbeenselectedasoneofthe“Top500ChineseEnterprises”bytheChinaEnterpriseConfederationandtheChinaEntrepreneursAssociationfor19consecutiveyears.Ranked11thin2019;in2020,thebrandvaluewillreachRMB415.861billion.

Lookingforwardtothefuture,ChinaLifewillmakeeveryefforttopromoteinnovation-driven,adheretonewdevelopmentconcepts,adheretohigh-qualitydevelopment,andacceleratetheformationofacomprehensiveTheindustryhasasolidmarketposition,servesthecountry’sstrategiccapabilitiesandglobalcompetitiveness,andstrivestoachievethestrategicgoalofbuildingaworld-classfinancialandinsurancegroup!

Subsidiaries

Asacomprehensivefinancialinsurancegroup,ChinaLifeInsurance(Group)Company'ssubordinatecompaniesareintroducedasfollows:

ChinaLifeInsuranceCo.,Ltd.Thecompany(ChinaLifeInsuranceCompanyLimited)isaleadingcompanyinthedomesticlifeinsuranceindustrywitharegisteredcapitalofRMB28.265billion.AsacorememberoftheFortuneGlobal500andtheFortune500BrandsoftheWorld-ChinaLifeInsurance(Group)Company,thecompanyhaswonthemostsocialThetrustofawiderangeofcustomershasalwaysoccupiedtheleadingpositionofthedomesticinsurancemarket,andisknownasthe"mainstay"ofChina'sinsuranceindustry.

ChinaGuangfaBankCompanyLimited(ChinaGuangfaBankCompanyLimited)wasestablishedin1988andisoneofthefirstdomesticjoint-stockcommercialbanks.In2016,ChinaLifebecamethedominantshareholderofChinaGuangfaBankandbecamethesinglelargestshareholderofChinaGuangfaBank.ChinaGuangfaBankupholdsthecorevalues​​of"Integrity,Responsibility,Innovation,andDedication",keepsinmindthehistoricalmissionof"Servingcustomers,rewardingshareholders,accomplishingemployees,andcontributingtosociety",andpracticingtheserviceconceptof"Knowingeachotherandservingyouwholeheartedly".Toachievethestrategicgoalof"anationalfirst-classcommercialbank",weareadvancingcourageously.

ChinaLifeInsuranceAssetManagementCompanyLimited(ChinaLifeInsuranceAssetManagementCompanyLimited)isoneofthelargestinstitutionalinvestorsinthedomesticcapitalmarketandanimportantparticipantinthecurrencymarket.Thebondmarketplaysapivotalrole.Itcurrentlyhasthe"fulllicense"qualificationintheassetmanagementfield,andhasbeeninvolvedinmanyfieldssuchasdomesticandforeignopenmarkets,publicfunds,andalternativeinvestments.

ChinaLifeProperty&CasualtyInsuranceCo.,Ltd(ChinaLifeProperty&CasualtyInsuranceCo.,Ltd)isanationwideprofessionalpropertyinsurancecompanythatfullyreliesontheadvantagesofChinaLifeGroup'scomprehensivemanagementandproactivelyadaptstoeconomicdevelopmentThe“NewNormal”hassteadilygrownintoastrongcompetitiveandinfluentialpropertyinsurancemarketentity,anditscomprehensivestrengthranksintheforefrontofthepropertyinsuranceindustry.

ChinaLifePensionCompanyLimited(ChinaLifePensionCompanyLimited)isanationalprofessionalpensioninsurancecompanywiththestrongeststrength,thewidestservicenetwork,andthehighestdegreeofspecializationinChina,withhumanresourcesandsocialsecurityQualificationsfortrustees,accountmanagersandinvestmentmanagersofenterpriseannuityfundsapprovedbytheMinistry.Thecompanyisfullyparticipatingintheconstructionofthethreepillarsofthepensionsecuritysystemandisaleadingcompanyintheinsuranceindustry.

ChinalifeEcommerceCompanyLimitedwasestablishedinBeijingonDecember6,2013.Itisawholly-ownedsubsidiaryofChinaLifeInsurance(Group)Company.ItisasubsidiaryoftheStateCouncil.The"SeveralOpinionsonPromotingInformationConsumptionandExpandingDomesticDemand"isthefirste-commercecompanyformallyestablishedinthedomesticinsuranceindustryaftertheissuance.

ChinaLifeInsuranceOverseasCo.,Ltd(ChinaLifeInsuranceOverseasCo.,Ltd)isbasedinHongKong,MacauandNewZealand,andisinternationallyoriented.ItisaninternationalwindowforChinaLifetoexpandoverseasbusiness.Ithas25yearsofoperatinghistoryinHongKong,Has30yearsofoperatinghistoryinMacau.Itisthelargeststate-ownedlifeinsurancecompanyinHongKongandMacauandtheonlyprofessionallifeinsurancecompanynamedafter"China".Thebusinesscoverslifeinsurance,investmentandtrust,providingprofessionalandhigh-qualityproductsandservicestooverseascustomers.

ChinaLifeInvestmentHoldingCompanyLimited(ChinaLifeInvestmentHoldingCompanyLimited)isaprofessionalalternativeinvestmentmanagementcompanyunderChinaLifeInsurance(Group)Company.Itsbusinessscopecoversequityinvestment,medicalandhealthinvestment,andpensionInvestment,realestateinvestment,infrastructureinvestment,assetandbusinessmanagementandotherfields.Inrecentyears,investmentperformanceandinvestmentbrandshavebeenintheforefrontoftheindustry,becomingapractitionerofvalueinvestmentandaleaderinthedomesticalternativeinvestmentindustry.

ChinaLifeHealthcareInvestmentCompanyLimited(ChinaLifeHealthcareInvestmentCompanyLimited)isaprofessionalinvestmentmanagementcompanyunderChinaLifeInsurance(Group)Company.

InsuranceProfessionalCollege(InsuranceProfessionalCollege),formerlyknownasChinaInsuranceManagementCadreCollege,wasfoundedin1986andisaffiliatedtoChinaLifeInsurance(Group)Company.In2003,thecollegewasrestructuredintoahighervocationalcollege,whichistheonlyfull-timegeneralhighervocationalcollegespecializingininsuranceeducationinthecountry.

CorporateLeadership

Chairman,SecretaryofPartyCommittee:WangBin

ViceChairman,President,DeputySecretaryofPartyCommittee:YuanChangqing

PartyCommitteeDeputySecretaryandChairmanoftheBoardofSupervisors:GuoXinshuang

PartyCommitteeMember:WuShaohua

VicePresident,PartyCommitteeMember:ShengHetai

SendtoDisciplineInspectionandSupervisionTeamLeader,CompanyPartyCommitteeMember:LiYulu

VicePresident,PartyCommitteeMemberSuHengxuan

VicePresident,PartyCommitteeMember:WangKai

PartyCommitteeMember:YangLiping

DevelopmentHistory

AsoneofthefinancialandinsurancecompanieswiththelongesthistoryinNewChina,ChinaLifehasalwaysbeentheexplorer,pioneerandleaderofChina’sfinancialandinsuranceindustry.The70-yearupsanddownshaveopenedupChinaLife’scharacteristichigh-qualitydevelopmentpathisalsoamicrocosmofthedevelopmentandreformofthefinancialandinsuranceindustryinthe70yearsofNewChina.

Startingabusiness

ThehistoryofChinaLifecanbetracedbacktothelifeinsuranceprovidedbytheoriginalPeople’sInsuranceCompanyofChina,whichwasestablishedonOctober20,1949.business.Just20daysafterthefoundingofNewChina,inordertorapidlydeveloptheeconomy,withtheapprovaloftheCentralPeople'sGovernment,aunifiednationalinsuranceagency,thePeople'sInsuranceCompanyofChina,wasestablished,withalifeinsuranceofficeunderit.

IntheearlydaysofthefoundingofthePeople’sRepublicofChina,thelifeinsurancebusinesswasdividedintotwocategories:compulsoryinsuranceandvoluntaryinsurance.Compulsoryinsurancemainlyincludedaccidentalinjuryinsuranceforrailway,ship,andairplanepassengers.Voluntaryinsurancewasdividedintoemployeegrouplifeinsuranceandsimplelifeinsurance.Twotypes.By1958,atotalof141millionyuaninlifeinsurancepremiumshadbeenrealized.Thenumberofpeopleparticipatinginemployeegrouplifeinsurancereached3million,andthenumberofpeopleparticipatinginsimplelifeinsuranceincreasedto1.8million,whichplayedapositiveroleinstabilizingpeople'slives.

InOctober1958,theXi'anFinanceandTradeWorkingConferenceheldbytheStateCouncilproposed:"Afterthepeople'scommunes,theroleofinsuranceworkhasdisappeared,anddomesticinsurancebusinessshouldbestoppedimmediately."In1959,thelifeinsurancebusinessandotherdomesticinsurancebusinessesenteredastateofcompletesuspension.

Resumedevelopment

AftertheThirdPlenarySessionoftheEleventhCentralCommittee,inApril1979,theStateCouncilapprovedtheAmajordecisionto"graduallyresumedomesticinsurancebusiness".InNovember,theNationalInsuranceWorkConferencewasheldinBeijing.Thedomesticinsurancebusiness,whichhadbeensuspendedfor20years,wasofficiallyresumed.China'sinsuranceindustryusheredinanewperiodofdevelopment.

Onthebasisofthefirstrecoveryofpropertyinsurancebusiness,in1982,lifeinsurancebusinesswasresumed.ThegreatpracticeofChina'sreformandopeningupandtheestablishmentofasoundsocialistmarketeconomicsystemhaveprovidedastrongdrivingforceforthedevelopmentoftheinsuranceindustry.Duringthe13yearsfrom1982to1995,thelifeinsurancebusinessincreasedatanaverageannualrateof40%.

SpecializedManagement

In1995,China'sfirst"InsuranceLaw"wasborn.In1996,inaccordancewiththerequirementsofthe"InsuranceLaw"ontheseparateoperationofpropertyinsuranceandlifeinsurance,ChinaInsuranceLifeInsuranceCo.,Ltd.wasestablishedonthebasisofinheritingallthelifeinsurancebusinessoftheoriginalPeople'sInsuranceCompanyofChinaandreorganizing17locallifeinsurancecompanies.Theeraofprofessionaloperation.

Theintroductionandfullimplementationofthepersonalmarketingsystemhaspromotedtherapiddevelopmentofthecompany.From1996to1998,themarketingteamgrewfrommorethan40,000to200,000,andthepremiumincomeincreasedfrom19.2billionyuanto54billionyuan,makingitthelargestinsurancecompanyinChina.

Restructuringandrestructuring

InMarch1999,ChinaLifeInsuranceCo.,Ltd.changeditsnametoChinaLifeInsuranceCompanyandbecameawhollystate-ownedfirst-classlegalperson.SubordinatetotheStateCouncil.Sofar,ChinaLifehasofficiallysteppedontothebigstageofChina'sfinancialandinsurancemarketindependently,providingvariouslifeinsuranceforhundredsofmillionsofChinesepeople,andassumingtheimportantfunctionofservingeconomicdevelopmentandmaintainingsocialstability.

InordertoactivelyrespondtothechallengesbroughtaboutbyjoiningtheWTO,in2000,ChinaLifemadeamajordecisiontoreformtheshareholdingsystemandestablishedthedevelopmentdirectionofestablishingamoderncorporatesystem.

In2002,ChinaLifeputforwardthegoalof"achieving100billionyuaninpremiumsandbecomingoneoftheworld'stop500".Itachieved128.7billionyuaninpremiumincomethatyearandwasselectedforthefirsttimeintheFortuneGlobal500.enterprise.

2003wasanimportantmilestoneinthehistoryofChinaLife.InJuneofthisyear,ChinaLifeInsuranceCompanywasreorganizedintoChinaLifeInsurance(Group)CompanyandexclusivelyinitiatedtheestablishmentofChinaLifeInsuranceCompanyLimited.OnDecember17and18,ChinaLifeInsuranceCo.,Ltd.wassuccessfullylistedinNewYorkandHongKongrespectively,creatingtheworld'slargestIPOthatyear.ThesuccessofthereorganizationandlistingindicatesthatChinaLifehasenteredanewerawithmorebrilliantprospects.

Groupdevelopment

SincetheestablishmentoftheChinaLifeInsurance(Group)Companyin2003,ithasadaptedtothedevelopmenttrendofcomprehensivefinancialoperationsandstartedthegroupdevelopmentJourney.

In2003,thegroupcompanyandlifeinsurancecompanyjointlyinitiatedtheestablishmentofChinaLifeAssetManagementCo.,Ltd.

In2006,ChinaLife'snewleadershipteamresearchedandformulatedagroupdevelopmentstrategyof"strongmainbusinessandmoderatelydiversified".Attheendof2006,propertyinsurancecompaniesandpensioninsurancecompanieswereestablishedoneafteranother.Atthesametime,thereformofoverseascompanies,ChinaLifeInvestmentCorporation,andtheInsuranceInstitutehasalsobeenbasicallycompleted.China’slargestinsurancegroupthatintegrateslifeinsurance,propertyinsurance,enterpriseannuities,assetmanagement,industrialinvestment,insuranceeducation,etc.,hasbeguntotakeshape.scale.

OnJanuary9,2007,thelifeinsurancecompanysuccessfullyreturnedtoAsharesinShanghai.Sincethen,ChinaLifehasbecomeChina'sfirstfinancialandinsurancecompanytobelistedonthedomesticandoverseasmarkets.WiththereturnofA-sharesofthe"WindofKings",ChinaLifehasestablishedthegoalofbuildingatopinternationalfinancialandinsurancegroupunderthedevelopmentstrategyof"strongmainbusinessandmoderatelydiversified",andclarifiedthescientificdevelopmentofChinaLife'scharacteristics.Road,putforwardthestrategicrequirementstocomprehensivelyimprovethecomprehensiveoperationandmanagementcapabilities.ChinaLife'spathofdevelopingwellandrapidly,becomingbigger,strongerandbetter,isgettingwiderandwider.

Includedinthecentralmanagement

InNovember2011,thefourmajorinsurancegroupswereincludedinthe"centralmanagement"(centralmanagement),andthenewsthatallofthemwereupgradedtothedeputyministeriallevelisbasicallyconfirmed.

Attheendof2011,thepersonnelrightsoftheabove-mentionedfourinsurancegroupcompanieshavebeentransferredtotheCentralOrganizationDepartment.AninsurancegroupcompanylearnedthatLiYuanchao,theheadoftheOrganizationDepartmentoftheCentralCommittee,officiallyannouncedthisdecisiononMarch16,indicatingthattheadjustmentofthenewteamofthefourmajorstate-ownedinsurancecompaniesandthere-rankingofthecompositionhavebeencompleted.ThismeanstheChinaLifeInsuranceGroup(hereinafterreferredtoas"ChinaLife"),thePeople'sInsuranceGroupofChina(hereinafterreferredtoas"PICC"),ChinaTaipingInsuranceGroup(hereinafterreferredtoas"ChinaTaiping"),andChinaExportCreditInsuranceCorporation(hereinafterreferredtoas“CITICInsurance”)’sorganizationalrelationsandpersonnelrightshavebeentransferredtotheOrganizationDepartmentoftheCentralCommittee,andallhavebeenupgradedtodeputyministerial-levelcentralenterprises.Therelevantseniorofficialsofthefourinsurancegroupshavealsobeen"upgradedtoonelevel."YangMingsheng,vicechairmanoftheChinaInsuranceRegulatoryCommission,willbeinchargeofChinaLifeatthedeputydepartmentlevel.

Layoutoverseasmarkets

OnJune8,2015,ChinaLifeInsurance(Singapore)Co.,Ltd.wasformallyestablishedandopenedforbusiness,markingChinaLife’sofficialentryintoSoutheastAsiawithSingaporeasthefulcrum.Theinsurancemarkethastakenasolidsteptowardsinternationalexpansion,whichisamilestone.

OnNovember11and16,2016,ChinaLife’srepresentativeofficesinLondonandNewYorkopenedoneafteranother.Thisisanothernew“overseasbase”aftertheestablishmentofsubsidiariesinHongKong,Macau,andSingapore.AnotherbreakthroughinChinaLife'soverseaslayout.

OnAugust15,2018,ChinaLifeInsurance(Indonesia)Co.,Ltd.wasestablishedinJakarta,thecapitalofIndonesia.ItbecamethefirstChinesefinancialandinsurancecompanytoentertheIndonesianlifeinsurancemarket,fillingthegapinthecooperationbetweenChinaandIndonesiainthefieldoflifeinsurance,andcontributingtotheconstructionofthe“BeltandRoad”initiative.

IncreasingitsholdingsinChinaGuangfaBank

OnMarch1,2016,ChinaLifeissuedanannouncementstatingthatthecompanyhassignedrelevantacquisitionagreementswithCitigroupandIBMCredit,andplanstosellat6.39yuanpershareThetotalpurchasepriceof3.648billionsharesofChinaGuangfaBankheldbythelatter,thetotalconsiderationisabout23.312billionyuan.Afterthetransactioniscompleted,thecompanywillholdapproximately6.729billionsharesofChinaGuangfaBank,anditsshareholdingratiowillincreasefrom20%to43.686%,becomingitssinglelargestshareholder.

ReinvigorateChinaLifeandsetoffagain

In2019,facingthenewsituation,thePartyCommitteeofChinaLifeGroupwillstandonthestrategicandoverallperspective,comprehensivelyanalyzetheinternalandexternalsituationanditsownsituation,andfurtherestablishThestrategicgoalofbuildingaworld-classfinancialandinsurancegroupfacingthefutureisproposed,thestrategicthinkingof"threetransformations,fourtypes,andthreemodernizations"forrejuvenatingChinaLifehasbeenputforward,andthe"two-step"strategicdeploymentofrejuvenatingChinaLifehasbeenprofoundlyelaborated.ClearlyputforwardthefivestrategicprioritiesfortherevitalizationofChinaLife,andissuedacalltoallcadresandemployees:uniteandworkhard,revitalizeChinaLifeandstartagain.

CorporateCulture

CoreIdeas

Tobecomeoneself,tobecomeoneself,togrowintooneself

Theembodimentof"doublesuccess"Itisaphilosophicalconceptthatdialecticallyhandlestherelationshipbetween"beingoneself"and"adult"."Becomeaperson"meansthatonlybycontinuouslydevelopingandperfectingoneselfcanwebetterserveothers;"adultingoneself"meansthatonlythroughachievementsandhelpingotherscanwecontinuouslycreateourownvalueandrealizeourideals.Theconceptof"doublesuccess"fitstheessenceoftheinsurancefunctionof"Iamforeveryoneandeveryoneisforme",embodiesthecharacteristicsofChinaLife'sfinancialandinsuranceindustry,andisaconcretespreadofthecoresocialistvalues.

The"doublesuccess"conceptoriginatedfromChinaLife'slong-termstruggleandpractice.Itisasummaryoftheuniqueculturalqualitiesformedbythecompanyinthelong-termdevelopmentprocess.IthasbeenmeltedintothespiritualcoreofChinaLife.ThemostdeeplyrootedcoreconceptinChinaLife'scorporateculturesystem.

CorporateVision

Buildingaworld-classfinancialandinsurancegroup

Accordingtothestrategicdeploymentrequirementsof"RevitalizingChinaLife",ChinaLifegoesfurtherThestrategicgoaloffirmlybuildingaworld-classfinancialandinsurancegroupisnotonlyanobjectiverequirementofthenewera,butalsoaninevitablechoiceforalong-lastingfoundation.Toacceleratetheconstructionofaworld-classfinancialandinsurancegroup,itisnecessarytobecomeaninternationalcompanywithoutstandingintegratedmanagementcharacteristics,strongtechnologicalinnovationcapabilities,basicinternationallayout,asolidleadingpositioninthecoremainbusinessmarket,andexcellentservicetothecountry’sstrategiccapabilitiesandglobalcompetitiveness.First-classfinancialinsurancegroup.

Entrepreneurship

Bedisciplined,passionate,andexecuteinthestate

"Discipline,passion,inthestate,andexecution"ItistheembodimentandpracticeofthespiritofthetimesinChinaLife,anditistheinheritanceanddevelopmentofthecorporatespiritundertheguidanceofthe"RejuvenationofChinaLife"strategy.Itclarifiestheworkattitude,mentaloutlook,character,moralsandbehaviorstyleofChinaLifeandallChinaLifepeople.

Disciplineistheprerequisiteandfoundation,passionismotivationandvitality,inthestateisresponsibilityandresponsibility,andimplementationisimplementationandguarantee.ThefourarecloselylinkedandinteractwitheachothertojointlybuildthespiritualhomeofChinaLifeinthenewera.

Businessphilosophy

Legalcomplianceinnovationdrivesvalueprioritycoordinateddevelopment

"Legalcompliance"isthepromotionofactivecompliance,Theconceptofacomplianceculturethatcreatesvaluethroughcompliance,has"zerotolerance"forviolationsoflawsandregulations,andcreatesagoodatmosphereinwhicheveryoneisresponsibleforcompliance.

"Innovation-driven"isaninevitablechoicetobuildaworld-classfinancialandinsurancegroup,andacceleratetheconstructionofChinaLifethroughscienceandtechnology,makinginnovationapowerfulengineforthedevelopmentofChinaLife.

"ValuePriority"iscenteredonimprovingthequalityofdevelopmentandoperatingefficiency,comprehensivelystrengtheningvaluecreation,acceleratingtherealizationoftheorganicunityofscaleandbenefits,andensuringtherealizationofreasonablegrowthinquantityandsteadyimprovementinquality.

"Coordinateddevelopment"istostrengthenoverallcoordination,resourcesharing,complementaryadvantages,formastrongsynergy,andprovidecustomerswithapackageoffinancialandinsuranceserviceprogramstomeetcustomerdiversifiedconsumerneeds.

Serviceconcept

Honestyandtrustworthiness,professionalismandefficiency,customerfirst,first-classexperience

"Honestyandtrustworthiness"istoadheretothespiritofcontract,abidebymodernbusinessethics,andwincustomerswithhonestserviceTrustandloyalty.

"Professionalandefficient"isthebasisforprovidingcustomerswithhigh-qualityservices,realizingtoprovidecustomerswith"anywhere,safe,reliable,efficientandconvenient"one-stopinsurance,investment,andbankingintegratedfinancialservices.

"Customerfirst"isbasedoncustomersatisfactionasthestartingpointandgoal,tomeettheever-changingneedsofcustomersforfinancialandinsuranceservices,andtowinahappierandbetterlifeforcustomers.

"First-classexperience"isthepursuitgoalofbuildinga"service-excellent"enterprise,continuouslyimprovingservicelevels,value-addedserviceexperience,andwinningcustomers'comfort,peaceofmind,andpeaceofmindwithlove,sincerity,andcare.

Talentconcept

People-oriented,bothmoralityandability,couragetotakeresponsibilityandgooddeeds

"People-oriented"istoregardtalentsasthefundamentalforcetopromotethedevelopmentofthecompanybyimprovingthetalentteamTheoverallqualityofChinaLifewillbestrengthened.

"Havingbothabilityandpoliticalintegrity"isthecriterionandbasisforselectingandappointingpeople.Virtueisthefoundationandthecore.Onlyvirtueisthecommander,andvirtuedependsontalent.

"Beingbravetotakeresponsibility"isanessentialqualityofChinaLife'scadresandemployees.Theymusthavethespiritualrealmof"successdoesnothavetobeinme"andthehistoricalresponsibilityof"successmusthaveme".

"Beinggoodatdoing"meansfindingtherightworkingmethods,insistingondoinganddoinginlearning,applyingwhatyouhavelearned,promotinglearning,learningandusingeachother,enhancingtheabilitytoplangoodstrategies,andimprovegoodgraspAbilitytoimplement.

Inthefuture,ChinaLifewillcontinuetobuildculturalsoftpower,continuetoenrichandpromotethe"doublesuccess"corporateculturesystemwiththecoreconceptof"becomingoneselfasaperson,andadultachievingoneself",andpromotetheconstructionofcorporateculturethroughinternalandexternallinkagesTheworkhasenteredanewstage,usingthesoulofculturetocontinuouslyenhancethecompany'sintrinsicvalue,andpromotetheconstructionofaworld-classfinancialandinsurancegrouptoanewlevel!

Importanthonors

2021

August2021:TheUS"Fortune"magazinereleasedthelistof2021"Fortune500"companies,rankingChinaLifeRanked32nd,up13placesfromlastyear.

May2021:ChinaLifeisranked49thinthe"2021ForbesGlobal2000".

June2021:WorldBrandLabreleasedChina’s500mostvaluablebrandsin2021,andChinaLiferankedfifth.

2020

OnSeptember28,2020,ChinaLifeInsurance(Group)Companyranked10thinthe"Top500ChineseEnterprises2020",withanoperatingincomeof9066900.6millionyuan.

OnAugust10,2020,theFortuneGlobal500listof2020wasreleased,andChinaLifeInsurance(Group)Companyranked45th.

OnJuly27,2020,ChinaLifeInsuranceCo.,Ltd.ranked10thontheFortuneChina500listin2020.

OnJuly2,2020,itwasranked15thinthetotallistofthetop500Chinesecompaniesbymarketvalueforthefirsthalfof2020.

OnMay13,2020,ChinaLifewasranked37thonthe2020ForbesGlobal2000list.

OnMay12,2020,thePeople’sDailyChinaBrandDevelopmentResearchInstitutereleasedtheChinaBrandDevelopmentIndex,China’sCorporateSocialResponsibilityLeadingIndex,ranking18th.

OnMay10,2020,the"Top500ChineseBrands2020"rankinglistwasreleased,andChinaLifewasranked50th.

OnJanuary11,2020,the"2019ChinaCorporateSocialResponsibilityTop500List"wasreleased,andChinaLifeInsuranceCo.,Ltd.ranked13th.

OnJanuary4,2020,wonthe2020CaijingEvergreenAward"SustainableDevelopmentInclusiveAward".

OnJanuary3,2020,ChinaLiferanked11thamongthetop500listedcompaniesbymarketcapitalizationin2019.

InJanuary2020,the2020Global500MostValuableBrandsListwasreleased,andChinaLifewasranked58th.

InJanuary2020,itwasrankedamongthetop15inthe"2019ChinaLifeInsuranceListedCompaniesCorporateReputationRanking"releasedbytheiiMediaRanking.

InJanuary2020,itwasrankedamongthetop15inthe"2019ChinaAutoInsuranceListedCompaniesCorporateReputationRanking"releasedbytheiiMediaRanking.

2019

OnDecember18,2019,thePeople’sDaily"ChinaBrandDevelopmentIndex"100listranked53rd.

OnDecember12,2019,the"Huiju.com·2019HurunBrandList"wasreleased.ChinaLifewaslistedwithabrandvalueof115(billionyuan),Huiju·2019TheHurunBrandListranks16thandthe2019FinancialBrandValueNationalRanking5th.

OnDecember11,2019,hewaslistedinthe2019“Top500WorldBrands”,ranking132.

InDecember2019,ChinaLifeInsurance(Group)Companywasselectedasoneofthetop100brandsinthe2019ChinaBrandPowerCeremony.

OnNovember19,2019,the2019AsianFinancialCompetitivenessRankingListwasannounced,andChinaLifeInsuranceCo.,Ltd.wonthe"2019BestLifeInsuranceCompanyinAsia"award.

In2019,itwasrankedfourthinthe"2019ChinaInsuranceIndustryListedCompaniesOnlineWordofMouthList"publishedbytheiiMediaRanking.

OnSeptember1,2019,the2019ChinaServiceIndustryTop500ListwasreleasedinJinan,andChinaLifeInsurance(Group)Companyrankedseventh.

OnSeptember1,2019,the2019Top500ChineseEnterpriseswasreleased,andChinaLiferanked11th.

InJuly2019,theFortuneGlobal500listwasreleased,andChinaLifeInsurance(Group)Companyranked51st.

InJuly2019,theFortuneChina500listwasreleased,andChinaLiferanked11th.

SelectedbyFortuneMagazine’s“Fortune500”for17consecutiveyearsandranked51stin2019;

Selectedasthe“ChinaEnterpriseConfederation”and“ChinaEntrepreneursAssociation”for18consecutiveyears.“Top500Enterprises”,ranked11thin2019;

Continuouslyselectedasthe“Top500GlobalBrands”oftheWorldBrandLab,ranked139thin2019;

16consecutivelyIn2005,itwasselectedasthe“China's500MostValuableBrands”bytheWorldBrandLab,rankingNo.5,withabrandvalueofRMB353.987billion,rankingfirstamongChineseinsurancecompanies;

Selectedby"Forbes"Top2000GlobalListedCompanies",ranked105thin2019;

In2019,itwasincludedinthe"2019ChinaInsuranceIndustryListedCompaniesOnlineWordofMouthList"releasedbytheiiMediaRanking(iiMediaRanking)Rankedfourth.

2016-2018

InDecember2018,the"2018WorldBrand500"compiledbytheWorldBrandLabwasannounced,ranking139th.

OnNovember30,2018,itwasawardedthe"2018TOPFinancialList-BestLifeInsuranceCompanyoftheYear".

OnJune20,2018,WorldBrandLab(WorldBrandLab)releasedthe2018"China's500MostValuableBrands"analysisreportinBeijing.ChinaLife(325.372billionyuan)rankedfifth.

The16thplaceinthe2018ChinaTop100BrandValueList.The42ndintheworld'stop500.

In2018,theFortuneGlobal500ranked42nd.

In2018,FortuneGlobal500ranked42nd.

OnJune6,2017,the"BrandZTop100MostValuableGlobalBrands2017"wasannounced,andChinaLifeInsuranceranked78th.

InAugust2016,ChinaLifeInsurance(Group)Companyranked12thamongthetop500Chinesecompaniesin2016.

CustomerService

LifeInsurance

AsthemainbusinessofChinaLife,lifeinsuranceserviceismanagedbyChinaLifeInsuranceCompanyLimited("ChinaLifeInsurance"forshort))Undertaking,thebusinessscopecoversallareasoflifeinsurance,personalaccidentinsurance,healthinsurance,annuityandotherpersonalinsurance.AsChina'slargestprofessionallifeinsurancecompanyandtheworld'slargestprofessionallifeinsurancecompanybymarketcapitalization,ChinaLifeInsurancehasalwaysbeeninaleadingpositioninthedomesticmarketandhasthelargestmarketshareinChina'slifeinsurancemarket.

ChinaLifeInsuranceadherestotheserviceconceptof"honestyandtrustworthiness,customerfirst",relyingonanationwideservicenetworkcoveringurbanandruralareas,andiscommittedtoprovidinghigh-qualityinsuranceproductsandservicestothegeneralpublic.Professionalandefficientcustomerservicelines,safeandfastcorporateInternetsites,20,586branchesandoutletsacrossthecountry,1.439millioninsurancesalespeople,83,000groupinsurancesalespeople,and245,000bancassurancechannelsalespeoplemakethecompanyBecomealifeinsuranceserviceproviderclosetocustomers.Thecompanyusesinternationallyleadinginformationtechnologytoexpandelectronicsaleschannelssuchastelephone,network,andmobilephoneclientstomeetcustomers'multi-channelpurchaseneedsforinsuranceproducts.

Propertyinsurance

AsthemainbusinessofChinaLife,propertyinsuranceservicesareundertakenbyChinaLifePropertyInsuranceCo.,Ltd.("ChinaLifePropertyInsurance").ChinaLifeProperty&CasualtyInsurancewasestablishedonDecember30,2006.Itsbusinessscopeincludespropertylossinsurance,liabilityinsurance,creditandguaranteeinsurance,short-termhealthinsuranceandaccidentalinjuryinsurance,reinsurancebusinessfortheabovebusinesses,andinsurancepermittedbynationallawsandregulations.CapitalutilizationbusinessandotherbusinessesapprovedbytheChinaInsuranceRegulatoryCommission.ChinaLifeProperty&CasualtyInsurancehassteadilygrownintoarelativelycompetitiveandinfluentialpropertyinsurancemarketentity.

Sinceitsestablishment,ChinaLifeProperty&CasualtyInsurancehasbrokentheconventionalmodeofpropertyinsurancebusiness,anditscomprehensivestrengthhasenteredtheforefrontofthepropertyinsuranceindustry.Bytheendof2018,ChinaLifeProperty&CasualtyInsurancehad1985self-builtwindowserviceoutlets.Thereare4126bancassurancechanneloutlets.Thereare9,206cardealershipoutlets.Thedualcustomerservicehotlineprovidescustomerswithall-roundservicessuchasreceivingreports,rescue,consultation,inquiries,appointments,andcomplaintsatanytime.

ChinaLifeProperty&CasualtyInsurancekeepsitsservicepromises,protectsconsumerrights,andsolvescustomers’difficultieswithinsuranceclaims.Ithassuccessivelywonthe"ChinaBestCustomerServiceAward"authoritativeaward;Practicingserviceforthepeople,forthegeneralinsuranceConsumersdotheirbesttoescortanddemonstratethepositiveenergyofinsurancewithdedicatedservice.

Pensioninsurance

AsChinaLife’smainbusiness,pensioninsuranceservicesareundertakenbyChinaLifePensionInsuranceCo.,Ltd.("ChinaLifePensionInsurance").ChinaLifePensionisanationalpensionmanagementcompanythatcanprovidecustomerswithcomprehensivefinancialproductsandservicessuchascorporateannuities,occupationalannuities,basicpensioninsurancefundmanagement,wealthmanagement,andassetmanagement.LifeInsurance(Group)Company,ChinaLifeInsuranceCo.,Ltd.andChinaLifeAssetManagementCo.,Ltd.jointlyinitiatedtheestablishment,headquarteredinBeijing.

ChinaLifePensionInsuranceCo.,Ltd.hasthethreequalificationsofenterpriseannuityfundtrustee,accountmanagerandinvestmentmanagerissuedbytheMinistryofHumanResourcesandSocialSecurity,andtheenterpriseannuityofChinaLifeAssetManagementCo.,Ltd.Togetherwiththequalificationsoffundinvestmentmanagers,ChinaLife’s“triad”corporateannuityservicestructureandcompleteservicechainhavebeenformed,reducingmanagementcosts,improvingmanagementefficiency,andpreventingmanagementrisksforvariouscorporateclients.ThroughChinaLife’sstrongprofessionalstrengthandservicenetworkadvantages,customerscanenjoyChinaLife’stailor-madepackageofoverallenterpriseannuitysolutions,diversifiedproductchoices,and“point-to-point”stable,convenient,anduniformqualityacrossthecountry.service.

AssetManagement

ChinaLifeAssetManagementCo.,Ltd.wasapprovedbytheStateCouncilandapprovedbytheChinaInsuranceRegulatoryCommission,jointlyinitiatedandestablishedbyChinaLifeInsurance(Group)CompanyandChinaLifeInsuranceCo.,Ltd.,2003TheregistrationwascompletedinNovember2004,anditwasofficiallyinauguratedinJune2004.Asoftheendof2018,thetotalconsolidatedassetsofassetcompaniesexceeded3trillionyuan,continuingtoleadthedomesticassetmanagementindustry.Activelyparticipatedinthedebt-to-equityswapproject,andthetotalinvestmentscaleincreasedto65.2billionyuan,rankingfirstamongindustryinstitutions.

TheinvestmentbusinessofChinaLifeAssetManagementCo.,Ltd.isinvolvedinmanyfieldssuchasdomesticandforeignopenmarkets,publicfunds,andalternativeinvestments.Thecompany'sbusinessscopeis:managementanduseofitsownfunds,entrustedorentrustedassetmanagementservices,consultingservicesrelatedtotheabovebusinesses,andotherassetmanagementservicespermittedbynationallawsandregulations.Themainbusinessincludes:entrustedmanagementofassetswithinChinaLife'ssystem,entrustedmanagementofassetsoutsideChinaLife'ssystem,investmentadvisorybusiness(QFIIinvestmentadvisory,etc.),intermediarybusiness(bondunderwriting,financialadvisory).

Inordertodevelopsocialwealthmanagement,promoteintegratedoperations,andmeetincreasinglydiversefinancialserviceneeds,thecompanyhasestablishedChinaLifeFranklinAssetManagementCo.,Ltd.(HongKong),ChinaLifeSecurityFundManagementCo.,Ltd.andChinaShouWealthManagementCo.,Ltd.

ChinaLifeAssetManagementCo.,Ltd.will,underthecorrectleadershipofChinaLifeInsurance(Group)Company,alwaysadheretothedevelopmentdirectionofmarketization,internationalizationandmodernization,alwaysadheretotheoverallservicesituation,andalwaysadheretothemainserviceIndustry,alwaysadheretoteamwork,alwaysadheretotheintegrityoftheindustry,continuetodevelopsocialwealthmanagement,continuetoreformandinnovate,continuetoexplorethepathofprofessionaldevelopment,andactivelyassumeindustryandsocialresponsibilities,withanexcellentbrandimage,first-classperformance,andoutstandingtalentsTeam,richproductsystem,high-qualitycustomerresources,strongoperatingcapabilitiesandprofessionalservicesystemarethestandards,andstrivetobuildthecompanyintothecorecompetitivenessofChinaLife'sdevelopmentandbecomeadomesticfirst-classandinternationallycompetitiveassetmanagementinstitution.

Overseasinsurance

ChinaLifeoverseasinsuranceandassetmanagementservicesareundertakenbyChinaLifeInsurance(Overseas)Co.,Ltd.andChinaLifeFranklinAssetManagementCo.,Ltd.Themainbusinessincludeslifeinsurance,Investment-linkedinsurance,healthinsurance,retirementplans(providedprovidentfundandMPF)andfundmanagement,third-partyinstitutionalclientoverseasassetmanagementandinvestmentconsultingservices.

InthefaceofthewaveofeconomicglobalizationandthehistoricalopportunitiesandchallengesofChina’seconomictake-off,ChinaLifeaimstobuildatopinternationalfinancialandinsurancegroup,withaninternationalvision,aninternationalconcept,andaninternationalmindset.,Basedoninternationalizedprofessionalknowledgeandinternationalizedskills,activelydevelopoverseasinsuranceservicesandstrivetopromoteinternationalcooperation.

ChinaLifeInsurance(Overseas)Co.,Ltd.isbasedinHongKong,MacauandNewZealand,andisinternationallyoriented.ItisaninternationalwindowforChinaLifetoexpandoverseasbusiness.Ithas35yearsofoperatinghistoryinHongKongand30yearsofoperatinghistoryinMacau.Sinceitsestablishment,thecompanyhaskeptpacewiththetimes,workeddiligently,andforgeaheadinthespiritof"stable,honest,efficient,andinnovative"enterprisespirit,prudentinvestmentstrategy,andcustomerfirstservicetenet.

InthefiercelycompetitiveHongKong,MacaoandNewIndialifeinsurancemarket,thecompanyreliesonChinaLife’sglobalstrengthtoprovidehigh-qualityservicestoHongKong,Macaoandnewcustomers,withreasonablepremiums,comprehensiveprotection,credibility,andstableoperations.,Deeplywelcomedandtrustedbycustomers.

AlternativeInvestment

ChinaLifeInvestmentHoldingsCo.,Ltd.isaprofessionalalternativeinvestmentmanagementcompanyunderChinaLifeInsurance(Group)Company.Thebusinessscopecoversequityinvestment,medicalandhealthinvestment,pensioninvestment,realestateinvestment,infrastructureinvestment,specialopportunityinvestment,assetandcorporatemanagementandotherfields.

Inrecentyears,ChinaLifeInvestmentCorporationhasactivelypromotedtheimplementationofChinaLife’sdevelopmentstrategyof“bigassetmanagement,bighealth,andbigpension”,focusingonalternativeinvestmentfields,activelyseizingdomesticandoverseasmarketopportunities,andrelyingonlong-term,stable,Excellentinvestmentabilityhasachievedleapfrogdevelopment,investmentperformanceandinvestmentbrandareintheforefrontoftheindustry,becomingapractitionerofvalueinvestmentandaleaderinthedomesticalternativeinvestmentindustry.

Banking

ChinaGuangfaBankwasestablishedin1988andisoneofthefirstdomesticjoint-stockcommercialbanks.Adheringtothecorevalues​​of"Integrity,Responsibility,Innovation,andDedication",keepinginmindthehistoricalmissionof"servingcustomers,returningshareholders,achievingemployees,andcontributingtosociety",practicingtheserviceconceptof"knowingeachother,andservingyouwholeheartedly"toachieveThestrategicgoalof"anationalfirst-classcommercialbank"isadvancingbravely.

ChinaGuangfaBankiscommittedtoprovidingcustomerswithhigh-quality,high-efficiency,andcomprehensivefinancialservices.InBeijing,Tianjin,Hebei,Shanxi,Liaoning,Jilin,Heilongjiang,Shanghai,Jiangsu,Zhejiang,Anhui,Fujian,Jiangxi,Shandong,Henan,Hubei,Hunan,Guangdong,Guangxi,Chongqing,Sichuan,Yunnan,Shaanxi,Xinjiang,etc.24provinces(municipalities,autonomousregions)and100prefecture-levelandabovecitiesandtheMacauSpecialAdministrativeRegionhaveestablished44directlyaffiliatedbranches,862businessinstitutions,andestablishedSWIFTsecretcustodywith1,319financialinstitutionsinmorethan100countriesandregionsaroundtheworldRelationship,providinghigh-qualityandcomprehensivefinancialservicestomorethan300,000corporatecustomers,morethan37millionindividualcustomers,morethan46millioncreditcardcustomers,andmorethan36millionmobilefinancialcustomers.

Educationandresearch

ChinaLife’sinsuranceeducationservicesincludepost-doctoratetraining,insuranceprofessionaleducation,vocationaleducationandprofessionaltrainingintheinsurancefield.

InsuranceVocationalCollegeisaffiliatedtoChinaLifeInsurance(Group)Company.ItspredecessorwastheChinaInsuranceAdministratorsCollegefoundedin1986.In2003,itwasrestructuredintoafull-timepublicgeneralhighervocationalcollege.ItistheonlyprofessionalcollegeinthecountrythatspecializesinItisafull-timepublicuniversityforinsuranceeducation,anditisalsoaneducationandtraininginstitutiondirectlyunderthePartySchooloftheCommitteeofChinaLifeInsurance(Group)CompanyoftheCommunistPartyofChinaandChinaLifeInsurance(Group)Company.ThenationaleducationbusinessismanagedbytheHunanProvincialDepartmentofEducationandrecruitsstudentsnationwide.Thecollegeiscommittedtocultivating"easy-to-useandpractical"high-qualitytechnicalandtechnicalprofessionalsforChina'sfinancialandinsuranceindustry,andtoprovidetalentandintellectualsupportforthedevelopmentofChina'sfinancialandinsuranceindustryandlocaleconomicconstruction.Alargenumberofstudentshavebecomeseniormanagementtalentsintheinsuranceindustry.Thecollegeisknownasthe"WhampoaofChina'sinsuranceindustryandthecradleofprofessionalmanagers".

ClaimsCase

At22:55onJune17,2019,a6.0magnitudeearthquakeoccurredinChangningCounty,Yibin,SichuanProvince.Aftertheearthquake,ChinaLifeInsurancepaidgreatattentiontoitandimmediatelyactivatedtheemergencyplanformajoremergencies.At8:32amonJune18,acustomer'svehicleinGaoCounty,Yibinwasdamagedduetoanobjectfallingfromaheight.ChinaLifePropertyandCasualtyInsurancecompletedthecompany'sfirstpaymentinthedisasterwithinonehourofreceivingthereport.AsofJune24,ChinaLifePropertyandCasualtyInsuranceYibinZhongzhihadreceived10reportsfromtheearthquakezone,andtherewerenocasualties.Atpresent,9claimshavebeenpaid,withmorethan20,000yuanincompensation.ChinaLifePropertyInsurancewillcontinuetoprovidecustomerswithfast,convenient,anduser-friendlyservices.

InJune2019,torrentialrainsandfloodsbrokeoutinmanypartsofsouthernmycountry,cropswereseverelydamaged,andenterprisesandinstitutionsandpeoplesufferedheavylossesinproperty.Afterthedisasteroccurred,ChinaLifePropertyandCasualtyInsurancepaidgreatattentiontoit.Therelevantinstitutionsatalllevelswereconcernedaboutthedisaster-strickencustomers.Theyimmediatelyinitiatedemergencyprocedures,formulatedemergencymeasuresandplansforclaimssettlementservices,simplifiedtheclaimssettlementprocess,andfullycarriedoutclaimssettlementservices.AsofJune24,thenumberofreportedcasescausedbythesouthernheavyrainwas1,395,andtheestimatedlossamountedtomorethan20millionyuan.Variousclaimssettlementworkisbeingcarriedoutinanefficientandorderlymannertorestorethenormalproductionandlifeofthedisaster-strickencustomersassoonaspossible.

OnJuly5,2018,twocruiseshipswerekilledontheirwaybacktoPhuket.ChinaLiferespondedquicklyandopenedagreenchannelforclaimssettlement,paying400,000yuanofinsurancemoneyonthespot,andthensuccessivelypayinginsurancemoney.,Atotalof2.0225millionyuan.

In2018,ChinaLifedevelopedaseriesofexclusivecriticalillnessinsuranceproductsforallagegroups,suchasChinaLifeFortunePremiumEditionandFraunhofer(ExclusiveEdition),andcompletednearly200,000criticalillnessclaimsthroughouttheyear.Amongthem,morethan1,300minorclaimscaseswereaccepted,andinsurancepaymentsexceeded100millionyuan.

InMarch2018,ChinaLifecooperatedwiththelocalgovernmenttocustomizeapovertyalleviationcadreinsurancepackageforlocalpovertyalleviationcadresatapremiumof300yuanperperson.OnAugust8,2018,thecity’spovertyalleviationcadresduringtheirworkUnfortunately,hediedinatrafficaccident.OnAugust15,2018,thebeneficiaryappliedforaclaim,andChinaLifearrangedaspecialpersontocarryouttheclaimserviceassoonaspossibletoassistthecustomerincollectingrelevantinformation.OnAugust20,adeathinsurancefeeof1millionyuanwaspaid.

OntheeveningofAugust12,2015,anexplosionoccurredinthehazardousgoodswarehouseofRuihaiCompanyinBinhaiNewArea,Tianjin.Aftertheaccident,theclaimsservicewillbecarriedout.

At16:30onAugust3,2014,amagnitude6.5earthquakeoccurredinLongtoushanTown,LudianCounty,ZhaotongCity,YunnanProvince,causingheavycasualtiesandpropertylosses.Aftertheearthquake,theheadofficeandbranchofficeseffectivelycooperatedtocomprehensivelycarryoutearthquakereliefandclaimssettlementservices.

OnMarch8,2014,MalaysiaAirlinesflightMH370lostconnection.ChinaLifelaunchedtheemergencyresponseplanformajoremergenciesassoonasitwasinformed,establishedaworkingmechanismoftotalandbranchlinkageandinter-provincialcoordination,maintainedclosecontactwithcivilaviationauthorities,andsetupaChinaLifeservicestationinBeijingLidoHotel.

Sincethe1990s,therehavebeenaircrashesinYinchuan,Xi’an,Nanjing,Baotou,Dalian,Wuhanandotherplaces.ChinaLifehaspaidmorethan28millionyuanininsurancefundsforthevictims,whichhaspromotedthesmoothprogressoftheaftermath.

Inearly2008,ararelow-temperaturerain,snow,andfreezingdisastersoccurredinmostpartsofsouthernChina,whichbroughtgreatdifficultiestotheproductionandlifeofthepeopleinthedisaster-strickenareas.AlllevelsofChinaLife'scompanieswereinahurrytodealwiththedisastervictimsandquicklyputintoclaimssettlementwork.Thewholesystemhasacceptedatotalof8,669relatedcasesandpaid17.429millionyuan.

OnFebruary28and29,2008,JiangYuxin,anemployeeofJiangxiFengchengElectricPower,andHuangKuaisheng,anemployeeofNanchengElectricPower,diedunexpectedly.ChinaLifeInsuranceCo.,Ltd.immediatelyopenedthe"GreenChannelforClaims"andpaid200,000yuantothefamiliesofthetwomartyrs.

OnFebruary4,2008,ChinaLifeInsuranceCo.,Ltd.immediatelysenttheinsurancemoneytothehomeoftrafficpolicemanKongXiaoyanwhodiedondutyintheiceandsnowdisaster.

OnMarch7,2008,theplantofHarbinLixindaWoodIndustryCo.,Ltd.encounteredafire.TheleadersandclaimspersonnelofChinaLifePropertyInsuranceCo.,Ltd.rushedtothesceneassoonaspossibletoprepaytheindemnitytothecustomer,whichprovidedgreathelpforthecustomertoresumeproductionassoonaspossibleandreduceeconomiclosses.

At14:28onMay12,2008,amassiveearthquakewithamagnitudeof8.0occurredinWenchuanCounty,SichuanProvince.ThisisthemostdestructiveandmostextensiveearthquakesincethefoundingofNewChina.ChinaLifepaid378millionyuananddonatedatotalof60millionyuan;sponsored624orphans.

OnthemorningofMay14,2008,YangChao,PresidentofChinaLifeInsurance(Group)Company,visitedFuxinNo.2PrimarySchoolinMianzhuCounty,whichwasseriouslyaffectedbythedisaster,toinspectthedisaster.

OnthemorningofMay16,2008,YangChao,PresidentofChinaLifeInsurance(Group)Company,visitedtheprimaryschoolstudentsinjuredintheearthquakeatChongqingChildren'sHospital.

Afterthe"5.12"WenchuanearthquakeinSichuan,ChinaLifetransferredhundredsofclaimsandsaleselitesfromtheentiresystemtogotocompaniesinthehardesthitareastoassistinclaimssettlementandpost-disasterrecovery.

Afterthe"5.12"WenchuanearthquakeinSichuan,ChinaLifeInsuranceCo.,Ltd.quicklyprovided12typesofrescueandreliefpersonnelincludingPLAofficersandsoldiersandmedicalpersonnelwhoparticipatedintheearthquakereliefwithaninsuredamountof200,000yuanperperson.Accidentalinjuryinsurancestronglysupportedtheearthquakereliefwork.

ChinaLifehaspaidatotalof6.74millionyuanininsuranceforthecasualtiesandsoldierswhoparticipatedinthedisasterreliefworkofthe"5.12"WenchuanearthquakeinSichuan,ofwhich2.1millionyuanwaspaidtothemartyrsofthe"5.31"victims.

OnJune16,2008,asevererainstormhitShenzhen,floodingintofactoriesandresidentialareas,causingheavylosses.ChinaLifePropertyInsuranceCo.,Ltd.immediatelywenttothefrontlinetochecktheestimatedloss.

OnSeptember24,2008,thecorporatepropertyofYunnanYuntianhuaUnitedBusinessCo.,Ltd.washitbyTyphoonHagupit.ChinaLifePropertyandCasualtyInsuranceCo.,Ltd.respondedtocustomerreportsinatimelymannerandorganizedrelevantpersonneltocarryoutOn-sitesurveysandclaimssettlementhaveminimizedthelossesoftheenterprise,andtheclaimssettlementworkhasbeenhighlyaffirmedbycustomers.

OnAugust13,2007,theDixiTuojiangBridgeunderconstructioninFenghuangCounty,HunanProvincesuddenlycollapsed.64peoplewerekilledand23otherswereinjured.ChinaLifeInsuranceCo.,Ltd.paidatotalof4millionyuanininsurancepayments.

OnJune11,2005,atorrentialrainfellinShalanTown,Ning'anCity,HeilongjiangProvince,whichcausedmudslidesandkilled107studentsinthecentralelementaryschoolofthetown.103ofthemwereinsuredbyChinaLifeInsurance.ChinaLifeInsuranceCo.,Ltd.promptlypaid1.06millionyuanofinsurancefundsandorganizedadonationof1millionyuan.

OnDecember25,2000,acatastrophicfirebrokeoutintheDongduCommercialBuildinginLuoyang.Amongthe309victims,79werecoveredbyinsurance,and75ofthemwerecoveredbyChinaLifeInsurance.ChinaLifepromptlypaid2.807millionyuanininsurancepremiums.

OnJune22,2000,thepassengership"RongjianNo.1"inRongshanTown,HejiangCounty,SichuanProvinceoverturned,causing62deathsand69unaccountedfor.ChinaLifepaidaninsurancepremiumofRMB524,000intime.

Developmentstrategy

ChinaLifehascomprehensivelyanalyzedtheinternalandexternalsituationanditsownconditions,firmlyestablishedthestrategicgoalofbuildingaworld-classfinancialandinsurancegroup,anddeterminedthe"threetransformations,fourtypes,threemodernizations"Strategicthinking,the"two-step"strategicdeployment,andthe"five-in-one"strategicfocus.

Operationalphilosophy

ChinaLifeInsurance(Group)Companyisadheringtothecorecorporateculturephilosophyof"becomingoneselfandbeingaman,andbeinganadultuptooneself",andacompanythatfollows"integrity-based,stableoperation"Purpose,abidebytheenterprisespiritof"innovation,hardwork,pragmatism,anddedication",take"sameworriesandhappinesswithcustomers"ascorporatevalues,andstrivetobuildaleadingdomesticandworld-classAlarge-scalemoderninsuranceandfinancialholdinggroupiscommittedtobenefitingthepublicandcontributinggreaterstrengthtotheconstructionofaharmonioussociety.

Productinnovation

ChinaLifehasconductedin-depthresearchonthedifferentiatedneedsofdifferentindustries,regions,channels,andcustomergroupsforriskprotectionandfinancialmanagement,andfocusedonthepersonalizedanddiversifiedneedsofcustomers.Productinnovation,exploringtomeettheneedsofriskprevention,health,medicalcare,elderlycare,children'seducation,familyfinancialmanagement,etc.atallstagesoflife,andbringingcustomersanewconsumptionexperience.

Claimsservice

ChinaLifehasdeeplyimplementedtheserviceconceptof"honestyandtrustworthiness,customerfirst",innovatedservicemeasures,simplifiedclaimsprocedures,acceleratedprocessingtimeliness,andeffectivelyimprovedthequalityofclaimssettlementservices.

Premiumscaleovertheyears

ChinaLife'spremiumscaleovertheyearsisasfollows

year	Premiumscale
2020	751.8billionyuan
2019	6977billionyuan
2018	646.3billionyuan
2017	643.4billionyuan
2016	560.5billionyuan
2012	35945727millionyuan
2011	348,860,247millionyuan
2010	35884612millionyuan
2009	31807148millionyuan
2008	31844038millionyuan
2007	218172.5millionyuan
2006	208.084millionyuan

Investmentinpensions

ChinaLifehasinvestedtensofbillionsinretirementrealestate

ChinaLifehasgraduallysetfootintheretirementcommunityinvestment,tryingtolayagoodfoundationfortheinitialdisruptionoftheretirementindustry.Duringthe2010National"TwoSessions",ChinaLifeChairmanYangChaorevealedthatthepreliminaryplantobuildapensioncommunity"onesouthandonenorth"patternhasalreadyacquiredmorethan10,000muoflandinLangfang,Hebei,withaplannedtotalinvestmentofabout10billionyuan.ItispossibletosettleinHainan.RedRockCapitalPresidentWuZhengclaimedthathewouldworkcloselywithLifeInsuranceontheelderlycareindustryproject,andthattheoverallplanningofChinaLife’selderlycarerealestatewasallfromhiseliteteam.

Thelatestproducts

ChinaLifehasconductedin-depthresearchonthedifferentiatedneedsofdifferentindustries,regions,channels,andcustomergroupsforriskprotectionandfinancialmanagement,andfocusedonthepersonalizedanddiversifiedneedsofcustomers.Productinnovation,exploringtomeettheneedsofriskprevention,health,medicalcare,elderlycare,children'seducation,familyfinancialmanagement,etc.atallstagesoflife,andbringingcustomersanewconsumptionexperience.

Lifeinsurancecompanieshavedevelopedthe"NationalLifeInsurance(ZhenxiangEdition)"series,"CorningLifetime(ExtremeEdition)","WealthHeirloom"dividend-basedlifetimeinsuranceproducts,and"FamilyPortrait"seriesproductsforhealth.

Assetmanagementtooktheleadinlaunchingaseriesofproductssuchas"Phoenix"and"Kirin"toalleviatetheriskofequitypledgeoflistedcompaniesandsupportprivateenterprisestoresolvefinancingproblems.

SocialResponsibility

Asawhollystate-ownedfinancialinsurancecompanyanditslifeinsurancecompanyisapubliccompanylistedinNewYork,HongKongandShanghai,ChinaLifeattachesgreatimportancetotheItishopedthat,inaccordancewiththeneedsofallparties,wewillcontinuetobuildandimprovechannelsofcommunicationwiththeoutsideworld,andstrivetocreateamutuallybeneficialandwin-winsituationforallstakeholderswithanhonestandresponsibleattitude.

Continuetodeepenreformandinnovation,andactivelypromoteintegratedoperation,technologicalinnovationandinternationallayout.

Theintegrationofserviceresourcesfocusingontravel,medicalcare,andrescuewasofficiallylaunched.Aseriesoffullyopendigitalplatformssuchas"ChinaLifeBrain",bigdataplatform,and"ChinaLifeCloud"werecompletedandputintouse;thenewgenerationsystemsoflifeinsurancecompaniesandpropertyinsurancecompanieswentonline;judicialassistanceinsurance,"E-secondbills"andotherinnovationsTheprojecthasstronglypromotedeconomicandsocialdevelopment;overseasmarketexpansionhasbeensmooth,andtheIndonesiancompanyhassuccessfullyopened.Letthecompany'shigh-qualitydevelopmentresultsgivebacktothesociety,servethepeople'slivelihood,andbenefitcustomers;

Adheringtothemissionofthefinancialcentralenterprisetohelpfightthebattleagainstpoverty.

Initiatedtheestablishmentofapovertyalleviationfundwithatotalof500millionyuan,dispatchedmorethan600cadresinvillagestopoverty-strickenareas,andinvestedmorethan100millionyuan;leveragedtheuniqueadvantagesofinsuranceforpovertyalleviation,anddeveloped37insuranceplansforthepoorProducts,648newlyinsuredpovertyalleviationprojects,covering1320county-leveladministrativeregionsin26provinces,districts,andcities,paidmorethan5.9billionyuanincompensation;supported4designatedpovertyalleviationcountiesinpovertyalleviation,andLongzhouCountybecamethefirstpovertyalleviationprojectinGuangxiThedesignatedpovertyalleviationworkofthenationalpovertyalleviationanddevelopmentkeycountiesinMaominghasbeenfullyaffirmedbythecentralleadership.

Activelyservethedevelopmentoftherealeconomy,advocatethepracticeofgreenfinance,andbuildanecologicalcivilization.

Invested1billionyuantoparticipateintheestablishmentofanationalfinancingguaranteefund;providedriskprotectionformajorprojectssuchastheHongKong-Zhuhai-MacaoBridge,theSino-RussianEastRoutenaturalgaspipelineproject,andtheconstructionoftheNationalPetroleumReserveBase;morethan360billionyuan;intheindustryTaketheleadinlaunchingspecialreliefproducts,andactivelysupporthigh-qualitylistedcompaniestoresolveshort-termmarketrisks.Activelyassistingpollutionpreventionandcontrol,in2018,thecontractedscaleofnewly-addedgreeninvestmentprojectswas16.4billionyuan.ItsassetcompanybecamethefirstdomesticinsuranceassetmanagementinstitutiontosigntheprinciplesofresponsibleinvestmentsupportedbytheUnitedNationsandpromisetoimplementESG(Environmental,SocialandGovernance)investmentphilosophy.

Socialwelfare

OnJuly23,2021,inordertofulfilltheresponsibilitiesofacentralfinancialenterprise,ChinaLifeDonated30millionyuantosupportHenan'sfightagainstcatastrophicfloodsanduseitfordisasterreliefandpost-disasterreconstructioninthedisaster-strickenareas.

Controversy

OnFebruary24,2021,ChinaLifepostedahotsearchonSinaWeiboduetoanemployeereportletter,andapersonclaimedtobeworkinginChinaLife’sNenjiangbranch16Inthereportletter,theemployeeofNenjiangstatedthatthegeneralmanageroftheNenjiangbranchhadfraudulentinsurancepremiumsandfraudulentinsurancearbitrageforpersonalgain.Inthisregard,arelevantpersonfromChinaLiferespondedtotheSino-SingaporeJingweiclientsayingthatthematterisunderinvestigationandunderstanding.OnMarch9,ChinaLife’sdisclosureannouncementstatedthatinaccordancewiththerelevantregulationsoftheChinaBankingandInsuranceRegulatoryCommission,thecompanydisclosedthecontentsofthe"AdministrativePenaltyDecisionoftheHeilongjiangSupervisionBureauofChinaBankingandInsuranceRegulatoryCommission."Accordingtothepenaltydecision,ChinaLife'sHeilongjiangbranchwasfined510,000yuanbytheHeilongjiangSupervisionBureauoftheChinaBankingandInsuranceRegulatoryCommissionforreasonssuchasimperfectinternalcontrolmechanisms.

Relatednews

"Breakanewpathforhigh-qualitydevelopment"

August22,2019,ChinaLifeInsuranceThegroup'slifeinsurancecompanyreleasedasemi-annualreport.Inthefirsthalfoftheyear,thecompany'srevenuewas457.2billionyuan,andthenetprofitattributabletoshareholdersoftheparentcompanywas37.599billionyuan,ayear-on-yearincreaseof128.9%.

"Thedazzlingperformanceisinseparablefromtheorganizationalstrengthandcombatpowergatheredatthecoreofpartybuilding.Atthesametime,ChinaLifehasnotforgottentheoriginalaspirationofstate-ownedenterprises,activelyfulfillingitssocialresponsibilities,andlookingfordirectionsanddrawingenergyfromit."ChinaWangBin,chairmanofthelifegroup,toldreporters.

ChinaLifestrivestosetagoodexampleintermsofservingthecountry’smajorstrategies,servingtherealeconomy,helpingtofightpoverty,andpreventingandresolvingmajorrisks.Researchanddevelopmentof"OneBeltOneRoad"exclusiveinsuranceproducts,launchofBaiyangdianEcologicalProtectionFund,innovativeestablishmentofChinaLifeXiong'anFinancialDevelopmentCenter...Inthefirsthalfofthisyear,ChinaLife'sdirectinvestmentintherealeconomyexceeded36billionyuan,includingsupportformajornationalstrategicinvestmentsofmorethan20billionEffortstosolvethefinancingproblemsofsmallandmicroenterprisesandprivateenterprises,andcreateanintegratedserviceof"privatefinancialexpress".Inthefirsthalfofthisyear,therealeconomyhasbeensupportedbymorethan200billionyuanthroughcreditloans,andmorethan70billionyuanofnewloanshavebeenextendedtoprivateenterprises;throughinnovationPovertyalleviationthroughinsurance,povertyalleviationbyindustry,povertyalleviationthrougheducation,etc.,enrichedandinnovatedpovertyalleviationmethodsandmethods.Asoftheendof2018,atotalof1.52billionyuanhasbeenpaidtopoorhouseholdswithregisteredcards,and648newinsuredpovertyalleviationprojectshavebeenunderwritten,covering26provincesandregions.Thecity’s1,320county-leveladministrativedistrictspaidmorethan5.9billionyuanincompensation.Inaddition,sincethebeginningofthisyear,ChinaLifehascarriedoutacomprehensiveinvestigationofmajorrisksandrectificationofchaos,andhasfirmlymaintainedthebottomlineofpreventingsystemicfinancialrisks.

"Asastate-controlledcomprehensivefinancialgroup,ChinaLifemustinsiston‘returningtovalue’,keepingthebottomlineofrisksfirmlyinplace,andunswervinglybreakingoutanewpathofhigh-qualitydevelopment."WangBinsaid.

ChinaLifehasbeenselectedasoneofthe“Top500BrandsintheWorld”for18consecutiveyears

OnAugust10,Beijingtime,theUS"Fortune"magazinereleasedthe2020"WorldOnthelistof“Top500”companies,ChinaLifeisranked45th,up6placesfromlastyear.InthepreviousWorldBrandLab's2020(seventeenth)"China's500MostValuableBrands",ChinaLifecontinuedtorank5thonthelist,withitsbrandvaluerisingby17.5%toRMB415.861billion,continuingtoleadChina'sfinancialandinsuranceindustry.

InaugurationofChinaLifeHealthIndustryInvestmentCo.,Ltd.

OnJuly18,2019,"Initiateextraordinaryachievementsandachievevision"-ChinaLifeHealthIndustryInvestmentTheinaugurationceremonyofthelimitedcompanywasheldinBeijing,andtheindependenthealthindustryinvestmentbusinesssectionofChinaLifeGroupwasborn.

The"Outlineofthe"HealthyChina2030"Plan"putsforwardthatthedevelopmentofthehealthindustryisoneofthefivestrategictasksfortheconstructionofahealthyChina,andthedevelopmentofthehealthindustryintoapillarindustryofthenationaleconomy.Inordertoactivelyplanandimplementthemeasuresandfullysupportthedevelopmentofthehealthindustry,thePartyCommitteeofChinaLifeGroupmadeadecisionanddeploymentinearly2019tocoordinateexistinghealthandelderlycareindustryresources,optimizethestrategiclayoutofhealthandelderlycare,andestablishChinaLifeHealthIndustryInvestmentCo.,Ltd.

YuanChangqing,DeputySecretaryofthePartyCommitteeandPresidentofChinaLifeGroup,statedattheunveilingceremonythattheestablishmentofChinaLifeHealthIndustryInvestmentCo.,Ltd.Theimportantdecisionsmadeonthebasisofthechangingtrendsofpeople’shealthdemand,accurategraspofthedevelopmenttrendofhealthproducts,andaccurategraspofthelawofinsurancedevelopmentareimportantdeploymentsforimplementingthenewdevelopmentconceptandadvancingthestructuralreformofthefinancialsupplyside,aswellasexploringnewdevelopments.TheimportantmeasurestorevitalizeChinaLifeandpromotethecompany'shigh-qualitydevelopmenthaveopenedanewchapterinthedevelopmentofChinaLife'shealthindustry.

ChinaLifelaunchesthefirstRMBinsurancesavingsproductintheIndonesianlifeinsurancemarket

OnJuly9,2019,ChinaLifeInsurance(Indonesia)Co.,Ltd.launchedIndonesiaThefirstRMBinsurancesavingsproductinthelifeinsurancemarket.ThisproductwillprovidelocalcustomerswithmoreoptionsforassetallocationandhelppromotethefurtherinternationalizationoftheRMB.

LinJianguo,generalmanagerofChinaLifeInsurance(Indonesia)Co.,Ltd.,thankedtheIndonesianFinancialServicesAuthorityandtheIndonesianLifeInsuranceIndustryAssociationfortheirsupportandguidancetoChinaLifeinhisspeech.Withimmediateeffect,thisRMBinsurancesavingsproductwillbethefirsttobesoldasanagentthroughtheninebranchesofBankofChinaJakartaBranch.

WangLiping,MinisterCounseloroftheEconomicandCommercialCounselor’sOfficeoftheChineseEmbassyinIndonesia,expressedinhisspeechthathehopesthatChinaLifeInsurance(Indonesia)Co.,Ltd.willtaketheopportunitytolaunchthisproducttogainadeeperunderstandingofIndonesiancustomersandcontinuetoprovidemoreinformation.Goodservicesandproductsmaketheguaranteemorediversified.

ChinaLifeisthefirstChinesefinancialandinsurancecompanytoentertheIndonesianlifeinsurancemarket.ChinaLifeInsurance(Indonesia)Co.,Ltd.wasestablishedonAugust15,2018.Cooperationgaps.Thecompanywillusehigh-qualityproductsandservicestowinthetrustandsupportofcustomers,andworkhandinhandwithallsectorsofthesocietytocontributetotheeconomicandsocialdevelopmentofIndonesiaandtocontributetotheconstructionofthe"BeltandRoad".

Asthefirstcooperativechanneltosellthisproduct,BankofChinaJakartaBranchranked114banksinthecomprehensivebusinessindexrankingsofallIndonesianbanksinthelatestissueofIndonesia’sauthoritativefinancialmagazine"INFOBANK".Rankedfifthamongbanks,withanexcellentrating;rankedfirstamongforeignbankbranchesinIndonesia.ThecooperationbetweenBankofChinaGroupandChinaLifeInsurancelaunchedthefirstRMBinsuranceproductinIndonesia,whichmeansthattheRMBservicesofBankofChinaJakartaBrancharemorecompleteanddiversified.