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Major companies of the Chinese insurance market

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statistics_2 June 8, 2011 (Dawei Wu) As the largest commercial insurance group in China, China Life is comprised of China Life (Group) Company and its subsidiaries and institutions, including 1) China Life Insurance Company Ltd., 2) China Life Asset Management Company Ltd., 3) China Life Property & Casualty Insurance Company Ltd.,4) China Life Pension Company Ltd., 5) China Life Insurance (Overseas) Company Ltd.,6) China Life Investment Holding Company Ltd., and 7) Insurance Professional College. It provides life, annuities, accident, and health insurance products in China. It operates in three segments: Individual Life Insurance, Group Life Insurance, and Short-Term Insurance. The company was founded in 1949 and is based in Beijing, China. China Life Insurance Company Limited (NYSE:LFC) is a subsidiary of China Life Insurance (Group) Company. It became a public-listed company on December 18, 2003, with a market capitalization of USD$5,756 million as of August 31, 2005. ¥832.5Billion was frozen during the IPO.

China Life Insurance (NYSE:LFC) had revenues for the full year 2009 of RMB 275 billion and RMB 318 billion for 2010. Both these two years got a negative surprise of -14.99% and -10.10%, respectively. On March 22, 2011 China Life Insurance reported the annual EPS of 2010 as RMB 1.19, price following fell by RMB 1.22 to RMB 54.54 two days after the announcement. On April 26, 2011 China Life Insurance (NYSE:LFC) reported its first quarter EPS of 2011 as RMB 0.28. The most current Market Cap of the LFC is USD95.65 billion. The enterprise value at the June 6, 2011 was USD87.75 billion. Trailing P/E is 19.65.

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All data converted to Currency USD using HKD/USD = 7.776

The main local competitors of the China Life Insurance Company (NYSE:LFC) are China Pacific Insurance (Group) Co., Ltd, (HKG:2601), PICC Property and Casualty Company Limited (HKG:2328) and Ping An Insurance (Group) Company of China, Ltd (HKG:2318). And there are also some international insurance companies, including Allianz SE, ING, and AXA etc. But these companies just load their part services in China, so investors should not regard them as the main competitors of China Life Insurance (NYSE:LFC). All other three companies are public in Hong Kong stock market. Ping An Insurance (HKG:2318) is regarded as the most competitive one to the China Life Insurance (NYSE:LFC). The current price of Ping An Insurance is HKD 81.25 (June 3, 2011), and the Market Cap is HKD 621.09 billion. China Pacific Insurance (HKG:2601) and PICC Property and Casualty Company (HKG:2328) held the market cap of HKD 282.08 billion and HKD 130.14 billion.



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