Last CNY15.28 CNY
Change Today +0.16 / 1.06%
Volume 12.3M
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Company Description

Contact Info

16 Financial Street

Xicheng District

Beijing, 100033

China

Phone: 86 10 6363 3333

Fax: 86 10 6657 5722

China Life Insurance Company Limited, through its subsidiaries, is engaged in the writing of life insurance business, providing life, annuities, accident and health insurance products in China. Individual Life Insurance The company offers life insurance and annuity products to individuals, primarily through a distribution force comprised of approximately 653,000 exclusive agents operating in approximately 17,536 field offices throughout China, as well as other non-dedicated agencies located at branch offices of banks, banking operations of post offices and other organizations. Products The company offers life insurance and annuity products to individuals, providing a range of coverage for the whole length of a policyholder’s life. The company’s individual life insurance and annuity products consist of whole life and term life insurance, endowment insurance and annuities. The company offers both non-participating and participating products. There were approximately 112.55 million non-participating policies and 64.87 million participating policies, as of December 31, 2013, among which approximately 61.28 million non-participating policies and 49.24 million participating policies were sold to individuals. Whole Life and Term Life Insurance Non-participating whole life and term life insurance: The company offers non-participating whole life and term life insurance products. Non-participating whole life insurance products provide a guaranteed benefit, pre-determined by the contract, upon the death of the insured, in return for the periodic payment of fixed premiums over a pre-determined period. Non-participating term life insurance products provide a guaranteed benefit upon the death of the insured within a specified time period in return for the periodic payment of fixed premiums. Specified coverage periods range from 5 to 30 years or expire at specified ages. Participating whole life insurance: The company also offers participating whole life insurance products, which are traditional whole life insurance policies that also provide a participation feature in the form of dividends. Endowment Non-participating endowment products: Non-participating endowment products provide to the insured various guaranteed benefits if the insured survives specified maturity dates or periods stated in the policy, and provide to a beneficiary designated by the insured guaranteed benefits upon the death of the insured within the coverage period, in return for the periodic payment of premiums. Specified coverage periods range from 5 to 30 years or end at specified ages. Participating endowment products: The company also offers participating endowment products, which are endowment policies that also provide a participation feature in the form of dividends. Annuities: Annuities are used for both asset accumulation and asset distribution needs. Annuitants pay premiums into its accounts, and receive guaranteed level payments during the payoff period specified in the contracts. The company offers both non-participating and participating annuities. For non-participating annuity products, risks associated with the investments are borne entirely by the company. Participating annuity products are annuities that provide a participation feature in the form of dividends. The dividends are determined by the company in the same manner as its life insurance policies. Universal Life Products: Universal life products are life insurance policies with flexible premium and benefit amounts. For each universal life policy, the company establishes a separate account and determines the interest credit rate, mortality and expense charges specifically for such account. The benefits of universal life products are linked to the account value of each separate account. Group Life Insurance The company is a group life insurance company in China, providing group life insurance and annuity products to the employees of companies and institutions in China. The company offers group life insurance and annuity products to the employees of companies and institutions through approximately 2,700 sales teams with approximately 17,000 direct

 

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601628

Industry Average

Valuation 601628 Industry Range
Price/Earnings 16.2x
Price/Sales 1.1x
Price/Book 1.8x
Price/Cash Flow 12.0x
TEV/Sales 0.3x
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