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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.
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RANK40
Global 500 - 2022Aggregate sales hit $37.8 trillion last year—an in...READ MOREview in list
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