China Life Insurance Co. — Company Info And Latest News

China Life Insurance Co.

NEWS

Financial consumers are attracted to the guaranteed returns of insurance products, despite the increasing risks and moral hazards in the financial market due to problematic insurance companies. The restructuring of Yi'an Property Insurance, part of the "Tomorrow Group," highlights these issues but also shows that its risk and difficulty in resolution were relatively minor compared to other troubled insurers with much larger deficits.
The Chinese insurance industry faces challenges such as a growing amount of high-risk assets estimated at least 600 billion yuan, pressure from interest rate spreads, and difficulties in disposing of risk assets amid economic downturns. Regulatory bodies emphasize the importance of reforming small and medium-sized financial institutions and establishing a normalized mechanism for handling financial risks.
Suggestions for addressing the challenges include conducting industry-wide stress tests, revising rules for setting aside liability reserves, enhancing investment returns for insurers, and differentiating between protective and investment-oriented insurance products. Effective governance and accountability for shareholders and management are crucial for preventing mismanagement within insurance companies.

Mar.16 2024 13:44 PM

New fund to make long-term investments in listed shares; analysts say insurers responding to central government call to bolster flagging stock market

Nov.30 2023 05:39 AM

Mei Jianya, who led Zhejiang branch of China Life Pension, joins a growing parade of officials caught up in a corruption crackdown

Oct.17 2023 07:23 AM

Top actuary Li Mingguang becomes Communist Party head and is set to succeed Zhao Peng as president

Aug.2 2023 02:56 AM

State-owned giant would inject main assets into listed China Life Insurance in return for new shares as part of market-oriented reform plan

Feb.13 2020 03:51 AM

Nation’s top four listed insurance carriers benefit from strong policy renewals

Nov.2 2018 17:17 PM

China Life, Ping An report weak first-quarter performance for new business

Apr.27 2018 20:35 PM

Country’s largest insurer to hire more sales staff, offer more products, invest jointly with Baidu in internet-related projects

Aug.25 2017 17:00 PM