Lifelong Promise ‧ Lifelong Partner

 

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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 2023, China Life Insurance (Group) Company‘s achieved consolidated revenues of approximately RMB990 billion, and consolidated assets of RMB6.8 trillion. For 21 consecutive years, China Life Insurance (Group) Company has joined the ranks of Fortune Global 500 companies, and ranked 54th in 2023, with brand value of RMB 501.985 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 leading Chinese insurer and Chinese institutional investor in Hong Kong, with consolidated assets of HKD 476.706 billion2. Deep-rooted in Hong Kong and Macau, China Life (Overseas) maintains strong business ties with Mainland China while expanding to Southeast Asia, 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, including Hong Kong Branch, Macau Branch, China Life Trustees Limited, Singapore Subsidiary, Indonesia Subsidiary, Fintech Centre, and China Life International Financial Academy.

 

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

$501.985 billion

China Life Insurance (Group)
Brand Value1 (RMB)

$44.059 billion

Total Premium Income in 2023 (HKD)

$476.706 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" 2024 by World Brand Lab

2As of 31 December, 2023

3As of 25 October 2023, Moody’s has assigned an "A1" insurance financial strength rating to China Life Insurance (Overseas) Company

4As of 30 October 2023, 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

President

Jiang Tao

Vice President

Hu Qun

Vice President of China Life (Overseas) and General Manager of the Company’s Hong Kong Branch

Kang Le

Vice President

Liu Qing

Chief Risk Officer

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 2023, China Life Insurance (Group) Company‘s achieved consolidated revenues of approximately RMB990 billion, and consolidated assets of RMB6.8 trillion.

China Life has been listed among “The Fortune Global 500” for 21 consecutive years, with brand value of RMB 501.985 billion in 2024. 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