Lifelong Promise ‧ Lifelong Partner
Company Profile
China Life Insurance (Overseas) Company Limited ("China Life (Overseas) ") is the only overseas wholly-owned subsidiary of China Life Insurance (Group) Company, China’s largest state-owned financial insurance corporation. In 2022, China Life Insurance (Group) Company‘s consolidated revenues exceeded a trillion dollars, and consolidated assets surpassed RMB6 trillion. For 21 consecutive years, China Life Insurance (Group) Company has joined the ranks of Fortune Global 500 companies, and ranked 54th in 2023. For 16 consecutive years, China Life Insurance (Group) Company has been named one of the World’s 500 Most Influential Brands, with brand value of RMB 485.567 billion1. In 2016, China Life became the largest single shareholder of China Guangfa Bank, initiating a synergy layout among its insurance, investment, and banking businesses.
China Life (Overseas) has a rich heritage with its roots to be traced back to 1933, serving its customers for 90 years. With the strong support from the Group Company, China Life (Overseas) becomes the largest Chinese insurer in the Hong Kong and Macau markets, and the leading Chinese institutional investor in Hong Kong, investing in over 50 countries and regions, with total assets exceeding HKD460 billion. China Life (Overseas) established a presence in Hong Kong, Macau, Singapore, Indonesia and Shenzhen, with a wide range of business in life insurance, investment and Mandatory Provident Fund (MPF). China Life (Overseas) is committed to providing its customers with high-quality products and services in life protection, savings and annuities. Stationed at China Life Centre in Hung Hom, Hong Kong, China Life (Overseas) established 7 subsidiary companies across Hong Kong, Macau, Singapore, Indonesia and Shenzhen.
1931
The establishment of the parent company of the predecessor
China Insurance Company was set up in Shanghai, offering general insurance in the beginning.
1933
Set up Life Insurance Department, symbolizing the establishment of China Life (Overseas)
China Insurance Company set up its Life Insurance Department, which was the predecessor of China Life (Overseas), to start life insurance business.
1937
Undertook restructuring to pave the way for strategic development
The Life Insurance Department was restructured as China Life Insurance Company Limited to pave the way for strategic development in Hong Kong.
1949
Merged with China Insurance Company
It was agreed at the first national insurance meeting that, China Life Insurance Company Limited to merge with China Insurance Company.
1954
Focused on serving overseas customers
In response to the call of the Chinese government, China Life Insurance Company Limited focused on serving overseas customers.
1984
Established Hong Kong Branch
Hong Kong Branch was established to better serve local customers.
1989
Established Macau Branch
Established Macau branch, a strategic movement to serve both the Hong Kong and Macau markets.
1995
Established China Life Trustees Limited
Established China Life Trustees Limited, specializing in trust business, provident fund and MPF schemes.
2003
Renamed as China Life (Overseas)
China Life Insurance (Group) Company acquired China Life Insurance Company, and renamed it as “China Life Insurance (Overseas) Company Limited”.
2015
Established Singapore Subsidiary
Established a Singapore Company to hasten the pace of internationalization.
2017
Set up China Life International Financial Academy
The China Life International Financial Academy offers a wide variety of high quality trainings to associates at all levels in the company.
2018
Established Indonesia Subsidiary
The set up of the Indonesia Company further accelerated the development of internationalization.
2022
Standing by Hong Kong
Facing the unprecedented COVID-19 pandemic, China Life (Overseas) proactively demonstrated its corporate social responsibility by launching several convenient measures, and providing timely supports to ride out the storm with the local communities.
2023
A major milestone of serving its customers for 90 years
This year marks the 90th years of serving its customers, China Life (Overseas) launched a series of fun-filled celebrations to commemorate this special occasion.
54
Fortune Global 500
Companies Ranked in 2023
$485.567 billion
China Life Insurance (Group)
Brand Value1 (RMB)
$49.2 billion
Total Premium Income in 2022 (HKD)
$463.1 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" 2023 by World Brand Lab
2As of 31 December, 2022
3As of 27 October 2022, Moody’s has assigned an "A1" insurance financial strength rating to China Life Insurance (Overseas) Company
4As of 20 December 2022, 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
Liu Yuejin
Vice President
Jiang Tao
Vice President
Han Mei
Chairman of the Board of Supervisors
Hu Qun
Vice President of China Life (Overseas) and General Manager of the Company’s Hong Kong Branch
Kang Le
Vice President
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 2022, its consolidated revenues exceeded a trillion dollars, and its consolidated assets surpassed RMB6 trillion.
China Life has been listed among “The Fortune Global 500” for 21 consecutive years, and ranked 54th 2023. It has been included on the “World’s 500 Most Influential Brands” list for 16 consecutive years, with a brand value of RMB485.567 billion in 2023. After the listing in overseas in December 2003, China Life Insurance Company Limited returned to China A share market in January 2007.
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.
Upholding the corporate culture which centers on the concept of “Success for You, Success by You”, China Life adheres to the overall principle of making steady progress and pursuing high-quality development. Through advancing the coordinated and balanced growth in business value and scale, increasing the contribution from investment business, as well as strengthening the banking and financial services, it aims to implement integrated operations, technology innovation and international expansion, so as to build itself into a world-class financial insurance group.
Information Disclosure
Only Chinese version is available
Awards and Recognition
We are proud to gain widespread recognition and won numerous industry accolades
