China Life Singapore Wins “Most Innovative Life Insurance Company” in International Finance Awards 2022, Business News
SINGAPORE, March 7, 2023 /PRNewswire/ — China Life Insurance (Singapore) Pte. Ltd. (“China Life Singapore” or “the Company”) has won an award in 2022 International Finance Awards for Most Innovative Life Insurance Company – Singapore 2022.
China Life Singapore aims at high quality
Established in 2015, China Life Singapore is a licensed life insurer which is regulated by the Monetary Authority of Singapore. As part of China Life Insurance (Group) Company (“China Life”) which is the largest state-owned financial insurance corporation in China, China Life Singapore is backed by its financial strength and established heritage^. For 20 consecutive years, China Life is a Fortune Global 500 company, ranking 40 in 2022. It is an influential global brand with a brand value of RMB 452.539billion.
The Company’s parent company, China Life Insurance (Overseas) Company Limited (“China Life (Overseas)”) is a wholly-owned subsidiary of China Life. It has grown to become one of the largest financial institutions in Hong Kong with a total asset value of HKD 454.6 billion (December 2021) and a total premium income of HKD 59.7 billion in 2021. China Life (Overseas) has extended its footprint in Southeast Asia region in recent years, and established subsidiaries in Singapore and Indonesia in 2015 and 2018 respectively. Its financial rating by Moody’s was “A1” (insurance financial strength rating in October 2022) and by Standard & Poor’s was “A” (long-term local currency issuer credit rating and insurer financial strength rating in December 2022).
As a socially responsible company, China Life Singapore is committed to offer value-added financial solutions to customers to fulfil their risk protection, retirement, wealth management, and legacy planning needs. The Company believes in giving back to society through its corporate social responsibility activities to make a positive