After seeing impressive growth in 2020, China Life Insurance, the largest life insurer in China, fell eight spots to No. 40 on this year’s Global 500. The company brought in $157 billion in revenue, an 8.6% increase from 2020, but saw a 33.6% decrease in profits. The COVID-19 pandemic continued to affect sales, as well as agent recruitment and retention, and that negatively impacted growth, leading to a 9.3% year-over-year decrease in premiums from new policies. The company did see a 15% uptick in investment assets, primarily from increased allocation to durable assets such as government bonds.
CFOTO/Future Publishing/Getty Image
Lists ranking China Life Insurance
Latest news for China Life Insurance