[Summary] State-owned super-large financial insurance enterprise
China Life Insurance (Group) Company is a state-owned super-large financial insurance enterprise, headquartered in Beijing, ranked among the Fortune Global 500, China's Top 500 Brands, and a vice-ministerial unit of the state. Its predecessor was the former People's Insurance Company of China, established in 1949, which was split into China Life Insurance Co., Ltd. in 1996 and renamed China Life Insurance Company in 1999.
China Life Insurance (Group) Company's business scope comprehensively covers life insurance, property insurance, pension insurance (enterprise annuity), asset management, alternative investments, overseas business, e-commerce, and other fields, and through capital operations, it holds shares in multiple banks, securities companies, and other financial and non-financial institutions.
China Life Insurance Company is the largest state-owned financial insurance enterprise in China. In 2013, total premium income reached 386.8 billion yuan, with a market share of 31.6% in domestic life insurance business, and total assets of 2,407.1 billion yuan, making it one of the largest institutional investors in China's capital market. It has been listed on the Fortune Global 500 for 13 consecutive years, ranking 54th; and on the World Brand 500 for 7 consecutive years, ranking 237th, and was selected as 15th in the China Brand 500 by the China Brand Value Research Institute. Its life insurance subsidiary, after being listed simultaneously in New York and Hong Kong in December 2003, returned to the domestic A-share market in January 2007, becoming the first insurance stock in the mainland capital market and the first insurance company in the world listed in New York, Hong Kong, and Shanghai, and has become the largest listed life insurance company by global market value.
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