China Life Insurance Company Limited 601628 Stock Price Stock Quote Shanghai Stock Exchange

It also undertook over 300 health care entrusted programs, covering more than 100 million people; 57 long-term care insurance programs in 16 provinces and cities, covering 19 million people; and 88 supplementary medical insurance programs in 19 provinces and cities, covering 50 million people. The transformation and upgrade under “Dingxin Project” was carried out in the diversified business sector in great depth. During the Reporting Period, gross written premiums from the diversified business sector amounted to RMB78,477 million, an increase of 10.1% year on year. In the first half of 2021, as the life insurance industry saw fluctuation in the size of sales force to a certain extent, the Company firmly adhered to the team development strategy of enhancing quality while stabilizing quantity and further tightened the agent recruitment and retention.

• Further information regarding these risks, uncertainties and other factors is included in the Company’s Annual Report on Form 20-F for the fiscal year ended 31 December 2020 filed with the U.S.
• The gross investment yield was 5.69%, up by 35 basis points from the corresponding period of 2020.
• By the mid-1930s, Tai Ping had grown sufficiently large to become a member of the Shanghai Insurance Association, the only Chinese-owned company to be included in what had previously been an exclusive club for foreign insurers.
• First-year regular premiums were RMB80,674 million, a decrease of 14.3% year on year, which accounted for 98.91% of long-term first-year premiums.
• The increasingly competitive environment led to a need to change PICC’s structure.

In the first half of 2021, gross written premiums from other channels reached RMB27,346 million, an increase of 4.2% year on year. The Company actively developed government-sponsored health insurance businesses. As at the end of the Reporting Period, the Company carried out over 220 supplementary major medical expenses insurance programs, providing services to nearly 360 million people.

The chart shows the growth of an initial investment of $10,000 in China Life Insurance Company Limited, comparing it to the performance of the S&P 500 index or another benchmark. China Life Insurance’s stock was trading at $1.88 at the beginning of the year. © 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions.

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China Life also was helped by the government’s rule for foreign corporations operating in China, which stipulated that all employees in these companies must be covered by unified insurance policies. In response, China Life concentrated its unified insurance operations at its Guangdong Branch, close to the rapidly expanding free-trade zone, in which the majority of foreign enterprises had set up their Chinese operations. By 2001, China Life had captured 80 percent of the unified insurance business for the top 500 foreign firms operating in China. China Life Insurance Co Ltd (China Life), a subsidiary of China Life Insurance (Group) Company, offers a range of life insurance products. It provides term life insurance, whole life insurance, endowment insurance, universal life insurance, group life insurance and annuity policies.

Tai Ping’s fortunes began to dwindle after the start of the Sino-Japanese War in 1937, and especially with the Mao-led Communist revolution in 1949. The current China Life Insurance Company Limited volatility is 12.02%, representing the Eurjpy correlation average percentage change in the investments’s value, either up or down over the past month. Click the link below and we’ll send you MarketBeat’s list of the 10 best stocks to own in 2023 and why they should be in your portfolio.

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A hold rating indicates that analysts believe investors should maintain any existing positions they have in CILJF, but not buy additional shares or sell existing shares. As of September 2023 China Life Insurance has a market cap of $117.78 Billion. This makes China Life Insurance the world’s 110th most valuable company by market cap according to our data. The market capitalization, commonly called market cap, is the total market value of a publicly traded company’s outstanding shares and is commonly used to measure how much a company is worth. The opening of China to the West in the early years of the 20th century led to a variety of new business opportunities.

With equal emphasis on business scale and value as its long-term goal, the bancassurance channel focused on bank agency business and steadily pushed forward the business transformation. During the Reporting https://investmentsanalysis.info/ Period, gross written premiums from the channel amounted to RMB34,441 million, an increase of 20.7% year on year. First-year regular premiums were RMB11,993 million, an increase of 1.1% year on year.

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The customer-centric sales deployment of “Yi Ti Duo Yuan” moved from an adjustment period to a period of coordinated advancement, and continued progress was made in transformation and upgrade. The market-oriented investment management system was pushed forward consistently, and the investment value chain operated smoothly, which further enhanced the Company’s capability in deploying and allocating assets. Operations and services of the Company became more automated and internet-based, and the Shared Service Center was put into operation in phases. The Company constantly strengthened its technologies in terms of the support capability, responsiveness and stability, which kept on empowering its business development. Intelligent risk management was developed at a faster speed, and the Company’s capacity and efficiency of management and control over key risks were further enhanced.

• Based on an average daily volume of 3,300 shares, the short-interest ratio is currently 493.0 days.
• With equal emphasis on business scale and value as its long-term goal, the bancassurance channel focused on bank agency business and steadily pushed forward the business transformation.
• The market-oriented investment management system was pushed forward consistently, and the investment value chain operated smoothly, which further enhanced the Company’s capability in deploying and allocating assets.
• The Sharpe ratio shows whether the portfolio’s excess returns are due to smart investment decisions or a result of taking a higher risk.

A number of local groups appeared, however, and played an important role in developing the life insurance market among the indigenous population. China Life Insurance Company Limited is a life insurance company established in Beijing, China on 30 June 2003 according to the “Company Law of the People’s Republic of China” and the “Insurance Law of the People’s Republic of China”. The Company was successfully listed on the New York Stock Exchange, the Hong Kong Stock Exchange and the Shanghai Stock Exchange on 17 and 18 December 2003, and 9 January 2007, respectively. During the Reporting Period, the Company continued to strengthen the asset-liability interaction and the profitability was effectively enhanced. Due to the combined impact of the change in gross investment income and the update of discount rate assumptions for reserves of traditional insurance contracts, net profit attributable to equity holders of the Company was RMB40,975 million, an increase of 34.2% year on year.

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New business margin of half year’s sales of the sector was 36.2%, a decline of 3.1 percentage points year on year. In the first half of 2021, the Company prioritized business value and further implemented the customer-centric sales deployment of “Yi Ti Duo Yuan”. With the in-depth transformation as the main objective, the individual agent business sector focused on the individual customer market and frontline operational units, and proceeded with the standardized and professional business management and market-oriented incentive mechanism on an ongoing basis. The diversified business sector concentrated on professional operation and efficiency improvement and made coordinated advancement with the individual agent business sector, which saw steady progress in various business lines.

Renewal premiums amounted to RMB22,261 million (a year-on-year increase of 35.2%), accounting for 64.64% of the gross written premiums from the channel (a year-on-year increase of 6.96 percentage points). The bancassurance channel constantly strengthened the professional level of sales team, and its quality was improved steadily. As at the end of the Reporting Period, the number of the channel’s account managers was 26,000, the quarterly average active managers remained stable, and the production capacity per manager increased substantially. PICC began offering life insurance policies again in 1982, targeting the small but growing numbers of middle-class and wealthy Chinese, as well as government officials. Nonetheless, the Chinese life insurance market remained tiny–as late as 2004, per capita spending on life insurance amounted to the equivalent of just $28, compared with average per capita spending of as much $2,800 or more in Japan, offering tantalizing prospects for future growth.

As at the end of the Reporting Period, the number of agents of the sector was 1.15 million, including 0.719 million agents from the general sales team and 0.431 million agents from the upsales team. Although the number of monthly average productive agents of the sector decreased on a year-on-year basis, the number of high-performance agents was stable, and the foundation of the sales force generally remained solid. By vigorously pushing forward the reforms for development while proceeding with regular pandemic prevention and control, the Company forged ahead with steady progress in all aspects, and further solidified its comprehensive strengths and competitive advantages. Our products and services include individual life insurance, group life insurance, and accident and health insurance.

As a result, the company was forced to cede the leadership spot in two of the country’s most important markets, Beijing, captured by Ping An, and Shanghai, taken by China Pacific. 2 Wall Street equities research analysts have issued “buy,” “hold,” and “sell” ratings for China Life Insurance in the last twelve months. The consensus among Wall Street equities research analysts is that investors should “moderate buy” LFC shares. 1 Wall Street equities research analysts have issued “buy,” “hold,” and “sell” ratings for China Life Insurance in the last twelve months. The consensus among Wall Street equities research analysts is that investors should “hold” CILJF shares.

As at the end of the Reporting Period, the Company’s total sales force was approximately 1.223 million. Yet the former members of PICC Group began moving toward an opening of its share capital at the beginning of the 2000s. In 2000, China Life announced its intention to diversify its own shareholding in advance of a future public offering. In the meantime, the company continued to build up its business across China, solidifying its dominant position in 29 of the country’s 30 major markets.

China Life also provides accident and health insurance products such as medical expense insurance, disease-specific insurance, and defined benefit insurance. The company serves individuals, small- to medium-sized companies and large institutional clients in China. It markets and distributes products through direct-sales representatives, insurance agency companies, commercial banks, and insurance brokerage companies. The Company is a leading life insurance company in China and possesses an extensive distribution network comprising exclusive agents, direct sales representatives, and dedicated and non-dedicated agencies. The Company is one of the largest institutional investors in China, and becomes one of the largest insurance asset management companies in China through its controlling shareholding in China Life Asset Management Company Limited.