China Concept Stock: China Life Insurance Company (LFC)

China Life Insurance Company Limited (NYSE: LFC, Hong Kong Stock Exchange: 2628, Shanghai Stock Exchange: 601628) was founded in 1949, formerly known as the People’s Insurance Company of China, headquartered in Beijing, China, with 99,739 employees and a Chinese scale The largest insurance company’s main business is to provide life insurance and annuity products.

China Life Insurance logo

China Life Insurance Company (LFC):

China Life Insurance (Group) Company is a large national financial and insurance company. Its service phone is 95519. The company and its subsidiaries constitute my country’s largest state-owned financial and insurance group. Its business covers life insurance, property insurance, pension insurance, asset management, alternative investment, and overseas Business, e-commerce and other fields.

The development history of China Life Insurance Company (LFC):

  • On January 9, 2007, China Life was listed on the Shanghai Stock Exchange and issued 1.5 billion A shares at an issue price of 18.88 yuan per share. A total of 28.32 billion yuan was raised. The closing price on the first day was 38.93 yuan, which was higher than the IPO price. The price is 106% higher.
  • On February 9, 2007, the Hang Seng Index Service Company announced that China Life and Industrial and Commercial Bank of China (1398) will be included in the Hang Seng Index constituent stocks on March 12.
  • On December 27, 2009, China Life invested 5.819 billion yuan to take a 16.57% stake in Sino-Ocean Land, involving 934 million new shares, at a subscription price of 6.23 yuan per share.
  • In December 2012, it invested 35% of COFCO Futures and became the second largest shareholder; COFCO and Mingcheng Investment Consulting held 40.77% and 24.23%, respectively, becoming the first and third largest shareholders.
  • On August 24, 2011, China Life and AMP Capital jointly formed a fund management company-China Life Security Fund Management Co., Ltd., and AMP holds 15% of the shares of the new company.
  • On January 11, 2014, China Life Investment Holdings Co., Ltd., a subsidiary of China Life Group, the parent company of China Life Insurance, acquired a total of 26.04% of Chongqing Trust for 2.648 billion yuan and became the second largest shareholder.
  • On March 25, 2014, China Life (2628) increased the capital of China Life Property and Casualty Insurance Company, in which the company and its parent company, China Life Group, hold 40% and 60%, respectively. The registered capital increased from RMB 8 billion to 150. 100 million yuan, the company and the parent company will increase capital by 2.8 billion yuan and 4.2 billion yuan respectively in proportion to their shareholding.
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