China Life Insurance (Group) Corporation (hereinafter referred to as China Life) is a central financial enterprise [1], with total assets of 5.25 trillion yuan in 2022, and [148] is a state-owned super large financial and insurance enterprise; Headquartered in Beijing, it is one of the world's top 500 enterprises and China's top 500 brands [126]. The company's predecessor was the former People's Insurance Company of China, which was founded in 1949. In 1996, it was established as China Insurance Life Insurance Co., Ltd., and renamed as China Life Insurance Company in 1999. In 2003, with the approval of the State Council and the former China Insurance Regulatory Commission, the former China Life Insurance Company was reorganized and restructured into China Life Insurance (Group) Company. China Life Insurance (Group) Corporation and its subsidiaries constitute a large state-owned financial and insurance group in China, and are also important institutional investors in China's capital market. The business scope covers life insurance, property insurance, enterprise and occupational annuity, banks, funds, asset management, wealth management, industrial investment, overseas business and many other fields. In 2022, China Life Group's consolidated operating income will stand firm on the trillion platform, and its consolidated total assets will exceed the 6 trillion mark. It will provide about 610 trillion yuan of risk protection for economic and social development, and the stock of direct investment in the real economy will exceed 3.9 trillion yuan. [134] In 2022, China Life Insurance Group ranked 92nd in the list of the world's top 500 brands in the world brand laboratory; In the ranking list of China's 500 ××× Valuable Brands in 2023, the brand value of China Life reached 485.567 billion yuan [151], ranking first in China's financial and insurance industry. [135] In 2022, China Life Insurance Group ranked No. 40 in Fortune Global 500, and [135] World Brand Lab ranked No. 5 in China's 500 ××× valuable brands.
