On March 24, China Life Insurance Company Limited(601628) (hereinafter referred to as ” China Life Insurance Company Limited(601628) life insurance company”) released the annual performance report of 2021.
The annual report shows that China Life Insurance Company Limited(601628) life insurance companies maintain “double leading” in scale and value under the pressure of industry development and the continuous slowdown of premium growth. In 2021, the company achieved a premium income of 618327 billion yuan, a year-on-year increase of 1.0%; The renewal premium was 442463 billion yuan, a year-on-year increase of 5.8%. As of December 31, 2021, the embedded value reached 1203008 billion yuan, an increase of 12.2% over the end of 2020. Affected by the epidemic situation and the slow release of insurance demand and other factors, the company achieved a new policy premium of 175864 billion yuan. The first-year premium is 98.410 billion yuan, of which 41.682 billion yuan is paid for the first-year premium of 10 years or above. In 2021, the company’s new business value in one year was 44.780 billion yuan. The number of effective long-term insurance policies reached 323 million, an increase of 1.9% over the end of 2020.
In 2021, China Life Insurance Company Limited(601628) life insurance company flexibly carried out tactical allocation operation according to market changes, taking into account short-term income stability, key risk prevention and long-term track layout. The total investment income reached 214057 billion yuan, a year-on-year increase of 7.8%; The total return on investment reached 4.98%.
In addition, in 2021, China Life Insurance Company Limited(601628) life insurance company operated steadily as a whole and performed well in investment. According to the market information on the balance sheet date, it updated the discount rate assumption of traditional insurance reserves. Taking the above factors into account, China Life Insurance Company Limited(601628) life insurance company realized a net profit attributable to the shareholders of the parent company of 50.921 billion yuan, an increase of 1.3% year-on-year.
As of December 2028, the total number of sales of life insurance company is about 60000. The sales force of individual insurance is 820000, including 519000 marketing team and Shanghai Hajime Advanced Material Technology Co.Ltd(301000) exhibition team.
