In 2003, with the consent of the State Council and the approval of the China Insurance Regulatory Commission, the former China Life Insurance Company was reorganized into China Life Insurance (Group) Company, with its business scope covering life insurance, property insurance, pension insurance (enterprise annuity), asset management, alternative investment, overseas business, e-commerce and other fields, and it also participated in many other financial and non-financial institutions such as banks and securities companies through capital operation.
China Life Insurance (Group) Company and its subsidiaries constitute the largest state-owned financial insurance group in China. In 20 13, the total premium income reached 386.8 billion yuan, the market share of domestic life insurance business was 3 1.6%, and the total assets reached 2407 1 billion yuan, making it one of the largest institutional investors in China capital market.
Extended data:
China Life consists of China Life Insurance (Group) Company, its subsidiaries and directly affiliated institutions.
These include: China Life Insurance Co., Ltd., China Life Asset Management Co., Ltd., China Life Property Insurance Co., Ltd., China Life Pension Insurance Co., Ltd., China Life E-Commerce Co., Ltd., China Life Insurance (Overseas) Co., Ltd., China Life Investment Holdings Co., Ltd. and Insurance Vocational College.
In 2009, the total premium income of China Life Insurance (Group) Company and its subsidiaries reached 302.992 billion yuan; The total assets reached 1.55 trillion yuan, accounting for 37.7% of the total assets of the whole industry in China. It is the only insurance group in China with assets exceeding one trillion yuan.
The total market value of life insurance companies under the Group is 965,438+065,438+047 million yuan, which still ranks first among listed life insurance companies in the world. Asset companies are one of the largest institutional investors in the domestic capital market; After the implementation of Interpretation No.2 of Accounting Standards for Business Enterprises, property insurance companies achieved profitability within three years of opening, breaking the conventional pattern of industry development. Pension insurance companies and China Life Investment Company have also achieved good results.
According to the ranking of "Top 500 in the World" published by Fortune magazine in 20 10, China Life has been on the list for the eighth time in a row, and its ranking has jumped from 290 in 2002 to 1 18 in 2009, ranking eighth among all 54 China enterprises and first among the four largest insurance companies in China.
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Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.