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China Life Insurance Company won three awards in the “2023 China Insurance Industry Ark Award”

China Life Insurance Company won three awards in the “2023 China Insurance Industry Ark Award”

Recently, the selection results of the “2023 China Insurance Industry Ark Awards” were announced. As one of the largest and most influential selection activities in the insurance industry, the China Insurance Industry Ark Awards has been held eight times so far and has enjoyed wide acclaim. This year’s award selection attracted 90 industry organizations to apply for 238 projects, and finally determined 65 awards.

China Life Insurance Company Limited (hereinafter referred to as “China Life Insurance Company”) won the “2023 Ark Award for High Quality Development Insurance Company”, “2023 Insurance Industry Innovation Ark Award”, and “2023 Insurance Industry Excellent Social Responsibility Ark Award” in this selection.

China Life Insurance Company has always adhered to high-quality development, actively responded to multiple challenges such as the deep adjustment of the industry, and achieved good results in the three aspects of “quantity, efficiency, and quality”. From the perspective of “quantity”, the company’s operating income has been stable at more than 820 billion for three consecutive years. Since 2007, the company’s total assets have achieved 15 consecutive increases, and the scale has exceeded 5.2 trillion yuan. In the rating, it has maintained a Class A rating for 20 consecutive quarters.

China Life Insurance Company is committed to scientific and technological innovation, actively responds to the call of the state, and launches an insurance data capacity improvement project based on a new digital base. It is the first in the industry to realize the transformation and upgrading from a traditional architecture to a distributed architecture, and strengthens the company’s data capacity building based on a new self-controlled distributed digital base. At the same time, under the guidance of my country’s first national standard in the field of data management—the Data Management Capability Maturity Model (hereinafter referred to as “DCMM”), it builds an enterprise-level data management system covering the entire domain, deepens data governance, optimizes institutional mechanisms, strengthens data integration, and deepens data application.

China Life Insurance Company fulfills its social responsibilities with actions, abides by the principle of “insurance is the name of insurance, and insurance is for the people”, and gives full play to the role of the “national team” of financial central enterprises and the “main force” of high-quality development. The company’s ESG practice has been widely recognized by the society. Adhering to the ESG strategic concept of “people-oriented, caring for life, creating value, and serving the society”, the company has built an ESG and social responsibility strategic model that includes three dimensions: environment, society, and governance, and seven stakeholders: the country, society, industry, customers, enterprises, employees, and the environment. It has embarked on a “China Life ESG Road” with Chinese characteristics and in line with international standards. It has been rated BBB by MSCI ESG, an international authoritative rating agency, and is in the leading echelon of the domestic life insurance industry.

2023 is the first year to fully implement the spirit of the 20th National Congress of the Communist Party of China, and a crucial year for the implementation of the “14th Five-Year Plan”. China Life Insurance Company will continue to adhere to the business strategy of “stabilizing growth, emphasizing value, optimizing structure, strengthening the team, promoting reform, and preventing risks”, fulfilling social responsibilities, deepening reform and innovation, and continuously injecting new momentum into high-quality development.

Picture: “2023 China Insurance Industry Ark Award” trophy photo

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