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Form 6-K CHINA LIFE INSURANCE CO For: Mar 11

March 11, 2022 12:49 PM EST

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Commission File Number 001-31914

 

 

 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 6-K

 

 

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16

of the Securities Exchange Act of 1934

March 11, 2022

 

 

China Life Insurance Company Limited

(Translation of registrant’s name into English)

 

 

16 Financial Street

Xicheng District

Beijing 100033, China

Tel: (86-10) 6363-3333

(Address of principal executive offices)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F:

Form 20-F  ☒             Form 40-F  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):  ☐

Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934:

Yes  ☐            No  ☒

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-            

 

 

 


Commission File Number 001-31914

 

On March 11, 2022, China Life Insurance Company Limited issued an announcement in Chinese, the English translation of which is attached as Exhibit 99.1 hereto.

EXHIBIT LIST

 

Exhibit    Description
99.1    English translation of the announcement, dated March 11, 2022


Commission File Number 001-31914

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

        China Life Insurance Company Limited
        (Registrant)
     By:   

/s/ Su Hengxuan

        (Signature)
March 11, 2022     

Name:

Title:

  

Su Hengxuan

President and Executive Director

EXHIBIT 99.1

 

Commission File Number 001-31914

 

LOGO

中 國 人 壽 保 險 股 份 有 限 公 司

CHINA LIFE INSURANCE COMPANY LIMITED

(A joint stock limited company incorporated in the People’s Republic of China with limited liability)

(the “Company”)

(Stock Code: 2628)

Announcement

In the year of 2021, China Life Insurance Company Limited (the “Company”) fully implemented the national strategic deployment. At a new development stage, the Company implemented the new development concept, served the new development pattern, and pushed forward its high-quality development by sticking to the role of insurance. In 2021, the Company’s accumulated premium income amounted to approximately RMB620 billion (unaudited), maintaining a solid leading position in the market.

Adhering to the people-centered development philosophy, the Company actively implemented the national strategic deployment. To effectively connect poverty alleviation with rural revitalization, the Company undertook more than 50 projects related to poverty prevention, with 1,175 cadres staying at villages for assistance taking root in the frontline and contributing to the poverty alleviation work. The Company spared no efforts to promote the development of areas in need of support, such as the “Three Regions and Three Prefectures”, and precisely implemented 116 investment projects offering support to such areas. The accumulative amount of investment by the Company in real economy has reached RMB2.7 trillion, with the new investments in 2021 reaching nearly RMB770 billion. The Company’s government-sponsored health insurance has benefited 1.12 million people under poverty and reduced the burden of their medical cost by nearly RMB3.2 billion, demonstrating the insurer’s responsibility to protect people’s good life. The coverage of supplementary medical insurance has increased by 60% year on year and 54 city-customized commercial medical insurance projects were implemented in 15 provinces and cities. The Company has actively developed the third pillar pension insurance business, with the insurance for the elderly covering 50.24 million people and the accumulated reserves reaching approximately RMB1.7 trillion. The Company continuously optimized the service experience, taking the lead to provide the “95519 hotline” service channel and a senior-friendly APP version to the elderly. The Company also made key breakthroughs in centralized and shared operational services, shortening the settlement process of small claims to 0.13 days.

In 2022, despite the continuing tough and complex situations, China’s economic fundamentals that will sustain long-term growth remain unchanged. The life insurance industry in China is still at an important stage full of strategic opportunities for development, and the long-term development trend still remains positive. During the first two months of this year, by centering the ideas of “achieving stable growth, maintaining market positions, controlling cost and risks, and focusing on the leading functions of Party building and the empowerment of value creation, coordinated development, digitalized operation and product and service innovation”, the Company continued to push forward its high-quality development and maintained a stable development.

Board of Directors of China Life Insurance Company Limited

March 11, 2022



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