Lifelong Promise ? Lifelong Partner

 

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As the largest integrated insurer on the Chinese mainland, China Life Insurance (Group) Company is taking firm strides to develop modern insurance services and realize the “China Life Dream” of becoming a premier international financial insurance group. As a wholly owned subsidiary and the overseas strategic headquarter of China Life Insurance (Group) Company, China Life Insurance (Overseas) Company Limited is expected to take advantage of its parent company’s excellent resources and continuously develop according to the objectives of transition, innovation and integration, in order to establish a strong foothold in Hong Kong, Macau and Singapore, as well as Indonesia, with a global perspective. China Life Insurance (Overseas) Company Limited’s primary focus is the enhancement of profits and the creation of value through organic growth, as well as mergers and acquisitions. In addition, the company emphasizes business development and investment management equally. China Life Insurance (Overseas) Company Limited is undoubtedly dedicated to becoming the platform and window for its parent company to develop its global business, as well as to be a training ground for its remarkable business management team. Distinguished by its talented professionals, advanced technology, articulate team management, stable business growth, effective results, and recognizable brand name in the industry, China Life Insurance (Overseas) Company Limited will strive to become the insurance leader in Hong Kong, Macau and Singapore, as well as Indonesia.

Wang Bin

Chairman, China Life Insurance (Group) Company
Chairman, China Life Insurance (Overseas) Company Limited

Company Profile

China Life Insurance (Overseas) Company Limited (“China Life (Overseas)”) is a wholly-owned subsidiary of China Life Insurance (Group) Company, China’s largest financial insurance corporation. For 18 consecutive years, China Life, the parent company, has joined the ranks of Fortune Global 500 companies, and ranked 45 in 2020, with a brand value exceeding RMB 415.861 billion1.

Hong Kong branch

1984

China Life Trustees Limited

1995

Indonesia subsidiary

2018

 

Macau branch

1989

Singapore subsidiary

2015

Overseas market

Now

45th

Fortune Global 500
Companies Ranked in 2020

$415.861 billion

China Life Insurance (Group)
Brand Value1 (RMB)

$66 billion

Total Premium Income in 2019 (HKD)

$416 billion

Total Asset Value2 (HKD)

A1

Financial Strength
Rating by Moody's 3

A

Financial Strength
Rating by Standard & Poor's 4

1 Source: ‘Top 500 Most Valuable Chinese Brands’ 2020 by World Brand Lab

2As of 31 December, 2019

3As of 26 September 2019, Moody’s has assigned an “A1” insurance financial strength rating to China Life Insurance (Overseas) Company Limited

4As of 29 December 2019, Standard & Poor's has assigned an "A" long-term local currency issuer credit rating and insurer financial strength rating to China Life Insurance (Overseas) Company Limited

Management Team

Yu Deben

Principal-in-Charge

Jiang Tao

Vice President

Li Guoan

CEO Assistant

Lam Man Ching

Chief Actuary

Corporate Culture

 

Corporate Mission

Prudent Operation,Trustworthy Service,
People-oriented Principle,
Harmonious Development,
Active Progression, Innovative Approach.

 

Corporate Vision

Lifelong Promise ? Lifelong Partner

 

Development Objective

We will strive to become the premier insurance leader in Hong Kong, Macau, Singapore and Indonesia, distinguished by talented professionals, advanced technology, articulate team management, stable business growth, effective results, and recognizable brand name in the industry.

 

Development Direction

Continue to solidify our position in Hong Kong and Macau markets by operating with pragmatism and precision. Expand into non-life insurance industry timely via merger and acquisition when good opportunities arise. Set up Singapore and Indonesia branch, and develop South East Asian markets. Actively consolidate our capabilities to go public according to unified deployment of parent company.

 

Strategic Position

We leverage on the excellent resources of China Life Insurance (Group) Company to establish a strong foothold in Hong Kong, Macau, Singapore and Indonesia with global perspective. Our primary focus is in the enhancement of profits and creation of values for the company through organic growth, merger, and acquisition. In addition, we emphasize equally in business development and investment management. We are undoubtedly the platform and window for China Life to develop its global business, and a training ground for our business management team.

Shareholder

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.

Awards and Recognition

We are proud to gain widespread recognition and won numerous industry accolades

 
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