China Life Insurance Case Study

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China Life Insurance (Group) Company and its auxiliaries (hereinafter alluded to as China Life) constitute the biggest business protection bunch in Mainland China. It is the main state-claimed protection bunch with a benefit surpassing 1 trillion RMB yuan. It is additionally one of the biggest institutional financial specialists in China's capital market.In 2011 its protection premium pay hit 357.8 billion RMB yuan. Life premium salary represented 34.75% of the Mainland's life piece of the overall industry. Before the end of 2011, its aggregate resource achieved 1.9562 trillion RMB yuan. (Figures gave have not been audited.China Life Insurance (Group) Company, headquartered in Beijing, is a substantial state-possessed budgetary and insurance …show more content…
In 1999, it was renamed China Life Insurance Company. With the endorsement of the State Council and the China Insurance Regulatory Commission, the previous China Life Insurance Company was rebuilt as China Life Insurance (Group) Company in 2003. It has China Life Insurance Company Limited, China Life Asset Management Company Limited, China Life Property and Casualty Insurance Company Limited, China Life Pension Company Limited, China Life Insurance (Overseas) Company Limited, China Life Investment Holding Company Limited and Insurance Professional College as its backups. Its business spreads disaster protection, property and loss protection, benefits arranges (corporate annuity), resource administration, mechanical speculation and abroad operations. Through capital operation, it has put resources into a few banks, security firms and other non-money related …show more content…
Life premium wage represented 34.75% of the Mainland's life piece of the overall industry. Toward the end of 2011, its aggregate resource achieved 1.9562 trillion RMB yuan. Before the end of 2010, its benefit represented 34.5% of the Mainland's total.China Life is not kidding to satisfy its protection duty. From 2003 to 2009, China life paid a total case settlement and continues adding up to 382.4 billion RMB yuan. Today, China Life has the biggest customer base on the planet, with 180 million in-power transient approaches and 160 million long haul strategies, giving protection scope to more than 600 million individuals times.China Life has been recorded for nine successive years on the Fortune Global 500 rundown, and its rank advanced definitely from 290 in 2003 to 113 in 2011. It has been recorded for the fifth back to back year among the World Brand 500 and positioned at 264th spot in 2011. After the double posting in New York and Hong Kong in December 2003, China Life Insurance Company Limited came back to China An offer business sector in January 2007 and has turned into the primary insurance agency to be recorded in Shanghai Stock Exchange. It is additionally the principal insurance agency triple-recorded in New York, Hong Kong and Shanghai and has turned into the biggest open life coverage organization on the planet as far as business sector

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