China Life Insurance Company was listed in the main list and the annual ESG practice list of the 8th China Insurance Industry Billboard
Recently, the 2023 China Insurance Industry Innovation and Development Forum and the 8th China Insurance Industry Billboard Selection Event hosted by the National Business Daily was held in Beijing, and China Life Insurance Company Limited (hereinafter referred to as “China Life Insurance Company”) was ranked No. The main list and the annual ESG practice list of the eighth China Insurance Industry Billboard.
Always adhering to the principle of insurance and insurance for the people, China Life Insurance Company has given full play to the role of insurance economic “shock absorber” and social “stabilizer”, business development has stabilized and improved, and the leading position in the market has been firmly established. In the first quarter of 2023, the company adhered to the top priority of development, and realized premium income of 327.221 billion yuan, a year-on-year increase of 3.9%; various new business related indicators achieved positive growth, with new business premiums reaching 117.669 billion yuan, a year-on-year increase of 16.6%; new business Value increased by 7.7% year-on-year. The first-year regular premium was 71.478 billion yuan, a year-on-year increase of 9.4%, and the premium scale was at a historical high. As of March 31, 2023, the company’s total assets reached 5,462.586 billion yuan, investment assets reached 5,243.830 billion yuan, the company’s core solvency adequacy ratio reached 147.53%, and the comprehensive solvency adequacy ratio reached 210.19%. The solvency continued to maintain a high level. The company is well capitalized.
The ESG practice of China Life Insurance Company has been widely recognized by the society, and has been rated BBB by the international authoritative rating agency MSCI ESG. It is in the leading echelon of the domestic life insurance industry and has embarked on a “China Life ESG Road” with Chinese characteristics and in line with international standards. Focusing on the ESG strategic goal of “building a world-class and responsible life insurance company”, China Life Insurance Company adheres to the ESG strategic concept of “putting people first, caring for life, creating value, and serving the society”, and has built a three-dimensional plan that includes environment, society and governance. , and the ESG and social responsibility strategic model of the seven stakeholders of the country, society, industry, customers, enterprises, employees and the environment.
Actively responding to the national strategic goal of “carbon peaking and carbon neutrality”, China Life Insurance Company fully implements the new development concept of innovation, coordination, greenness, openness and sharing, establishes and improves the green development model, and attaches great importance to the company’s role in promoting the construction of an ecological civilization system and promote the comprehensive green transformation of economic and social development, and help build a beautiful China. In 2022, the company will upgrade the original ESG management structure to the ESG and green finance management structure to ensure that the responsibilities and rights and responsibilities of ESG and green finance management work are clear. Actively serve various economic activities with both environmental and social benefits, increase service efforts for green industry corporate customers, and improve service innovation and supply capabilities of green insurance products. In 2022, the insured amount of green insurance will reach 417.812 billion yuan. As of December 31, 2022, the scale of green investment will exceed 430 billion yuan.
China Life Insurance Company stated that it will take the 20th anniversary of its listing as a new starting point, continue to deepen reform and innovation, focus on key areas to promote transformation and upgrading, and continuously inject new momentum into high-quality development, with more “simple, high-quality, warm” insurance protection services And a series of gratitude feedback activities to continuously improve the people’s sense of gain, happiness and security.
It is understood that the 2023 China Insurance Industry Billboard was initiated by the National Business Daily and co-sponsored by professional academic institutions and third-party consulting agencies. The Billboard is selected based on multi-dimensional evaluation criteria such as the development of soft and hard strengths of insurance institutions, market reputation, and objective operating data, focusing on the most intelligent companies in the Chinese insurance industry in the new era, with high industry value.
