Profile: China Life Insurance Co Ltd (LFC)
22 Jul 2014
China Life Insurance Company Limited, incorporated on June 30, 2003, is a China-based life insurance company. The Company through its subsidiaries is engaged in writing of life insurance business, providing life, annuities, accident and health insurance products in China. It operates in four segments: Individual life insurance business (Individual life), Group life insurance business (Group life), Short-term insurance business (Short-term) and Corporate and other business (Corporate & other). Individual life business relates primarily to the sale of long-term life insurance contracts and universal life contracts. Group life relates primarily to the sale of insurance contracts and investment contracts. Short-term relates primarily to the sale of short-term insurance contracts. Corporate and other business relates primarily to income and allocated cost of insurance agency business in respect of the provision of services to CLIC.
The Company is an insurance asset management company through its controlling interest in China Life Asset Management Company Limited. The Company also has controlling interest in China Life Pension Company Limited. Its Individual life mainly includes term life, whole life, endowment and annuity products, to individuals and assumed individual reinsurance contracts. Group life includes term life, whole life and annuity products, to group entities. Short-term includes the short-term accident and health insurance contracts. The Company had approximately 140 million individual and group life policies, annuities, and long-term health insurance policies in force. It also provides both individual and group accident and short-term health insurance policies and services.
China Life Insurance Co Ltd
No. 16, China Life Insurance Bui
Beijing BEJ 100033