China Life Insurance Company Limited has announced that its total premium income exceeded 700 billion yuan as of November 30, 2025, making it the first domestic life insurer to achieve this milestone. This marks a significant achievement in the company's 76-year history.
### A 76-Year Journey to 700 Billion Yuan As a pioneer in China's life insurance sector, China Life's growth from inception to surpassing 700 billion yuan in premium income reflects the broader evolution of the industry over the past 76 years.
#### 1949–1996: Early Foundations and the First 10 Billion Yuan In 1949, the People's Insurance Company of China was established, marking the birth of the nation's sole insurance institution. By 1996, China Life (then known as China Life Insurance Company Ltd.) became the first domestic life insurer to exceed 10 billion yuan in premium income.
#### 1996–2002: Restructuring and the First 100 Billion Yuan After restructuring in 1998, China Life's premium income surged to 530 billion yuan, making it the largest insurer in China. By 2002, it reached 128.8 billion yuan, entering the Fortune Global 500 for the first time.
#### 2003–2007: IPO and Approaching 200 Billion Yuan In 2003, China Life completed its overseas IPO, raising $3 billion—the largest global IPO that year. By 2007, its premium income neared 200 billion yuan, with its market value exceeding 500 billion HKD.
#### 2008–2014: Strategic Shifts and Individual Insurance Focus In 2008, bancassurance growth propelled China Life past 200 billion yuan in premiums. By 2014, individual insurance premiums exceeded 200 billion yuan, maintaining its market leadership.
#### 2015–2017: Rapid Growth in Agency Sales China Life's agent force peaked at 2.025 million in 2017, driving premium income past 500 billion yuan. First-year renewal premiums exceeded 100 billion yuan for the first time.
#### 2018–2020: Reform and Resilience Amid industry-wide adjustments, China Life launched its "Dingxin Project" in 2019 to optimize operations. By 2020, premium income reached 612.9 billion yuan.
#### 2021–2025: Breaking the 700 Billion Yuan Barrier Despite industry challenges, China Life achieved a premium income of 700 billion yuan by November 2025, demonstrating strong adaptability.
### Strategic Channel Innovations China Life's success stems from decades of channel optimization, including bancassurance expansion, individual agent reforms, and digital transformation. By Q3 2025, its sales force stood at 657,000, with 607,000 individual agents—the largest in the industry.
### Enhancing Customer Service with Digitalization Through six major operational reforms, China Life has streamlined claims processing, with some cases settled in just three minutes. Its app integrates insurance, wealth, health, and elderly care services, offering a seamless customer experience.
### Diversified Product Offerings and Ecosystem Development Aligned with China's aging population and healthcare needs, China Life has expanded its annuity, health, and elderly care insurance products. It has also invested in 50+ health and elderly care enterprises, establishing 20 senior living projects across 16 cities.
### Record Financial Performance in 2025 In the first three quarters of 2025, China Life reported: - New premium income of 218.034 billion yuan (+10.4% YoY). - Net profit of 167.804 billion yuan (+60.5% YoY), a record high. - Core and comprehensive solvency ratios of 137.50% and 183.94%, respectively.
Ranked as the world's largest life insurer by Standard & Poor's, China Life continues to lead the industry through innovation and resilience.
### Conclusion China Life's 700 billion yuan milestone underscores its enduring strength and provides a blueprint for the industry's transformation. By staying customer-centric and embracing change, insurers can navigate challenges and achieve sustainable growth.
As the sector evolves, China Life remains committed to driving progress in China's insurance market.
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