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94

China Life Insurance

Photograph by Tomohiro Ohsumi — Getty Images
  • Rank94
  • Previous Rank98
  • CEO
    Yang Mingsheng
  • Address
    17 Financial St., Beijing 100033
  • Websitehttp://www.chinalife.com.cn
  • Industry
    Insurance: Life, Health (stock)

China Life, which is 70% state-owned, is the biggest life insurer in China, but it’s coming off a few rocky years. China’s insurance market attracted dozens of new competitors after the Chinese government liberalized it, and China Life’s market share has fallen by almost half since 2007, from 50% to around 26%, according to Morningstar. The company is completing a major restructuring, and the government assigned it a new CEO in 2014. A new sales push early this year (fueled by an army of newly hired agents) led to a big bump in net income in the first quarter of 2015.

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Company Information

CEO
Yang Mingsheng
Industry
Insurance: Life, Health (stock)
Sector
Financials
HQ Location
Beijing, China
Websitehttp://www.chinalife.com.cn
Years on List13
Government owned 50% or more.

Key Financials (last fiscal year)

($ Millions)% change
Revenues87,249.37.8%
Profits1,687.5183.7%
Assets442,745.8-
Employees151,719-

Profits as a % of

Profit as % of Revenues1.9%
Profits as % of Assets0.4%
Profits as % of Stockholder Equity11%