Founded in 1963, China Life changed its name as China Life Insurance Co., Ltd. in 1981, with headquarters office located on No. 122, Dunhua North Road in Taipei City. China Life listed on the Taiwan Stock Exchange in 1995 and is trading under the ticker 2823. In order to provide more timely, convenient and attentive services, China Life has set up various branch offices and deployed agents nationwide aside from the firm’s headquarters office in Taipei City. In 2003, Mr. Ming-yang (Alan) Wang, former chairman of China Life, and Ms. Yu Ling Kuo took the helm of the firm as professional executives. Under their leadership, China Life reached a milestone by creating a professional team with risk management centric core competitiveness. Since taking office in 2018, China Life’s president, Ms. Stephanie Hwang has adhered to sustainable finance and promoted digital finance via active integration of system resources. Her efforts have led China Life to enter a new era of remote insurance application services by implementing facial recognition technology. Moreover, Ms. Hwang has abided by the philosophy of “using technology to do good” and internalized corporate governance and the principle of treating customer fairly into the Company’s corporate culture. In July 2021, Mr. Saloon Tham became the chairperson of China Life and is the first foreign chairperson in the domestic life insurance sector. As a veteran with over 30 years of international life insurance management experience, Mr. Tham will lead China Life to success by pursuing international development and business expansion.
China Life was the only large life insurer that did not make any investment in subprime mortgages and toxic assets during the financial crisis in 2008, thereby not booking any asset impairment losses. China Life’s nimble move to avoid the financial crisis has been massively applauded by investors and market. China Life has made its way with total asset surpassing NT$2 trillion in 2019 after the lifer’s total asset exceeded the threshold of NT$1 trillion in 1Q14. Previously, China Life acquired Winterthur Life Taiwan Branch in 2007. Later, China Life merged with Prudential’s Taiwan unit during the financial crisis in 2009, thereby increasing the number of its agents from 3,000 to 10,000. Meantime, the merger deal prompted China Life to create a more balanced and diversified distribution channels by strengthening its core distributions. In addition to Taiwan, China Life has expanded into the China market. In 2010, China Life bought 19.9% stake in China-based CCB Life through collaboration with China Construction Bank Corporation, the world’s second largest bank by market share. China Life has provided technological support with expertise in the realm of life insurance sector. The partnership is a cornerstone of China Life’s development in China.
China Life’s corporate mission is to become the most trustworthy life insurer that will maximize profit and value for policyholders, shareholders, employees and the society. As such, we have been perfecting corporate governance and internal control. In order to fulfill corporate social responsibility, China Life sets up a corporate social responsibility committee, which invites both board members and independent directors to take actions on all sorts of important issues concerned by the interested parties. Going forward, China Life will continue to uphold the core spirit of “We Share, We Link.” With that, China Life will strive to become the leading brand in the life insurance segment via forward-looking business strategies, sufficient solvency, prudent corporate governance and risk management, joint value creation through collaboration with the interested parties alongside realization of sustainable development.