Recently, China Life Insurance Co., Ltd. (hereinafter referred to as “China Life Insurance Company”) won the “Outstanding Life Insurance Company of the Year” in Sina Finance’s 2023 Jinqilin Insurance Industry Selection, and the “Dingfeng Insurance Company” in A Smart Insurance’s 2023 China Insurance Summit List Awards, the company’s China Life and Corning (Celebration Edition) insurance product portfolio won the “2023 14th Golden Pixiu Awards Annual Gold Medal Innovative Financial Product” award from Financial Management (Ebay Finance).
By adhering to high-quality development, our operating strength has reached a new level. China Life Insurance Company has always adhered to high-quality development. In the first three quarters of 2023, the scale and growth rate of premium income, new policy premiums, and first-year regular premiums all hit a record high for the same period in the past three years. The company’s operational development is stable and making progress. In terms of volume, total premiums reached 578.799 billion yuan, and total assets and investment assets exceeded 5.5 trillion. In terms of “efficiency”, new business value continued to grow, with a year-on-year increase of 14.0%, continuing to lead the industry. From the perspective of “quality”, first-year regular premiums were 105.982 billion yuan, a year-on-year increase of 16.0%, of which first-year regular premiums of ten years or more were 44.639 billion yuan, a year-on-year increase of 15.4%; the quality of the team continued to be optimized, and the team’s production capacity was greatly improved. ; The core solvency adequacy ratio reached 161.25%, and the comprehensive solvency adequacy ratio reached 232.68%, an increase of 17.66 percentage points and 25.90 percentage points respectively from the end of 2022, continuing to maintain a high level; maintaining the regulatory risk comprehensive rating for 22 consecutive quarters Category A rating.
By insisting on playing the role of “head goose”, the brand reputation has been newly demonstrated. China Life Insurance Company is unswervingly following the path of financial development with Chinese characteristics and has been awarded the A-level operating evaluation of insurance company legal entities by the Insurance Association of China for eight consecutive years. In 2023, China Life Insurance (Group) Company, with China Life Insurance Company as its core member unit, ranked 54th among the Fortune Global 500. In the 2023 “China’s 500 Most Valuable Brands” list released by the World Brand Laboratory Among the orders, the brand value reached RMB 485.567 billion, ranking first in the insurance industry.
Adhere to the supply of innovative products and serve the diverse needs of customers. With the continuous improvement of living standards, people’s awareness of health protection continues to increase, and their insurance protection needs are increasingly diversified. China Life Corning (Celebration Edition) insurance product portfolio combines the risk characteristics of the diseases covered by critical illness insurance products, customer needs and other factors, and conducts innovative research and development through reasonable disease grouping, optimization of liability allocation, etc., to achieve multiple coverage of major disease groups, mild Multiple disease protection, multiple protection for specific diseases and death protection provide customers with rich and diverse protection functions to better meet the people’s growing health protection needs.