(A joint inventory restricted firm integrated within the Folks’s Republic of China with restricted legal responsibility)

(the “Firm”)

(inventory code: 2628)


Within the yr of 2021, China Life Insurance coverage Firm Restricted (the “Firm”) totally carried out the nationwide strategic deployment. At a brand new improvement stage, the Firm carried out the brand new improvement idea, served the brand new improvement sample, and pushed ahead its high-quality improvement by sticking to the position of insurance coverage. In 2021, the Firm’s amassed premium revenue amounted to roughly RMB620 billion (unaudited), sustaining a strong main place out there.

Adhering to the people-centered improvement philosophy, the Firm actively carried out the nationwide strategic deployment. To successfully join poverty alleviation with rural revitalization, the Firm undertook greater than 50 initiatives associated to poverty prevention, with 1,175 cadres staying at villages for help taking root within the frontline and contributing to the poverty alleviation work. The Firm spared no efforts to advertise the event of areas in want of help, such because the “Three Areas and Three Prefectures”, and exactly carried out 116 funding initiatives providing help to such areas. The accumulative quantity of funding by the Firm in actual financial system has reached RMB2.7 trillion, with the brand new investments in 2021 reaching practically RMB770 billion. The Firm’s government-sponsored medical health insurance has benefited 1.12 million individuals beneath poverty and lowered the burden of their medical value by practically RMB3.2 billion, demonstrating the insurer’s duty to guard individuals’s good life. The protection of supplementary medical insurance coverage has elevated by 60% yr on yr and 54 city-customized industrial medical insurance coverage initiatives had been carried out in 15 provinces and cities. The Firm has actively developed the third pillar pension insurance coverage enterprise, with the insurance coverage for the aged protecting 50.24 million individuals and the amassed reserves reaching roughly RMB1.7 trillion. The Firm repeatedly optimized the service expertise, taking the lead to offer the “95519 hotline” service channel and a senior-friendly APP model to the aged. The corporate additionally made key breakthroughs in centralized and shared operational companies, shortening the settlement technique of small claims to 0.13 days.

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In 2022, regardless of the persevering with powerful and sophisticated conditions, China’s financial fundamentals that may maintain long-term progress stay unchanged. The life insurance coverage trade in China continues to be at an essential stage filled with strategic alternatives for improvement, and the long-term improvement development nonetheless stays constructive. Through the first two months of this yr, by centering the concepts of “reaching steady progress, sustaining market positions, controlling value and dangers, and specializing in the main features of social gathering constructing and the empowerment of worth creation, coordinated improvement, digitized operation and product and repair innovation”, the corporate continued to push ahead its high-quality improvement and maintained a steady improvement.

Board of Administrators of China Life Insurance coverage Firm Restricted

March 11, 2022


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