13个精算师·2025-12-09 09:02Core Viewpoint - China Life Insurance has achieved a significant milestone by surpassing 700 billion yuan in total premiums by November 30, 2025, becoming the first life insurance company in China to reach this scale, marking a new chapter in its development history [1]. Group 1: Historical Development - From 1949 to 1996, China Life Insurance began its journey with the establishment of the People's Insurance Company of China, reaching a premium income of 192 million yuan in 1996, becoming the first life insurance company in China to exceed 10 billion yuan in premiums [7]. - Between 1996 and 2002, the company completed its restructuring and achieved a premium income of 128.8 billion yuan in 2002, marking its first milestone of 100 billion yuan in premiums [8]. - From 2003 to 2007, China Life successfully went public, raising 3 billion USD in its IPO, and achieved a premium income of 196.6 billion yuan in 2007, nearing the 200 billion yuan target [9]. Group 2: Recent Performance and Achievements - In the period from 2021 to 2025, China Life Insurance faced challenges in the insurance industry but managed to cross the 600 billion to 700 billion yuan threshold by November 2025, demonstrating resilience and strong adaptability [18]. - As of the third quarter of 2025, China Life achieved a new record with a new single premium of 218.03 billion yuan, a year-on-year increase of 10.4%, and a net profit of 167.8 billion yuan, up 60.5% year-on-year [28]. - The company maintained a solvency adequacy ratio of 137.5% and a comprehensive solvency adequacy ratio of 183.94%, reflecting its strong financial health [30]. Group 3: Strategic Initiatives - China Life has continuously adapted its sales channels, enhancing its agent system and focusing on professional capabilities to maintain its market leadership [19]. - The company has implemented a series of reforms, including the "Dingxin Project" in 2019, to optimize its organizational structure and improve operational efficiency [17]. - In response to the aging population and increasing demand for health and retirement services, China Life has expanded its product offerings, including health insurance and retirement products, to meet diverse customer needs [24][25].