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]
 | |
.jpg) Headquarters at Beijing Financial Street | |
| Company type | Public; State-owned enterprise |
|---|---|
| |
| Industry | Financial services |
| Founded | 1949 (as PICC) |
| Headquarters | , |
Area served | People's Republic of China |
Key people | Dairen Lin (CEO), Chairman: Yang Mingsheng |
| Products | Life & health insurance |
| Revenue |  US$ 139.6 billion (2023)[1] |
| US$ -841.2 million (2023)[1] | |
| Total assets | US$ 954.0 billion (2023)[1] |
| Owner |
|
Number of employees | 176,625 (2023)[1] |
| Parent | China Life Insurance Group |
| Website | chinalife.com.cn |
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
edit
References
edit- ^ a b c d "China Life Insurance". Fortune Global 500. Fortune. Retrieved 24 August 2024.
- ^ "China Life Insurance". Fortune. 21 July 2015. Archived from the original on 6 May 2016. Retrieved 18 May 2016.
- ^ "China Life Profit Rises as Industry Recovers After Pandemic". Bloomberg.com. 27 April 2023. Retrieved 8 May 2023.
- ^ "The Global 2000 2023". Forbes. Archived from the original on 29 January 2024. Retrieved 7 February 2024.
- ^ 王俊伟. "China Life Insurance Co announces delisting from US stock market". www.chinadaily.com.cn. Retrieved 10 June 2023.
- ^ "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.
External links
edit- Business data for China Life Insurance Company:
- China Life Insurance official website
- e-chinalife.com
- [1]