January 28, 2015 5:14 AM ET

Insurance

Company Overview of New China Life Insurance Co., Ltd.

Company Overview

New China Life Insurance Company Ltd. is engaged in underwriting life insurance products and services to individuals and institutions in the People’s Republic of China. It operates through Individual Insurance and Group Insurance segments. The company provides life, health, and accident insurance products; acts as an agent for domestic and international insurance companies; offers insurance related consulting services; and conducts capital management operations. It also offers asset management; real estate property development and training; and health management services. The company was founded in 1996 and is based in Beijing, the People’s Republic of China.

New China Insurance Tower

No. Jia 12 Jianguomenwai Street

Chaoyang District

Beijing,  100022

China

Founded in 1996

55,262 Employees

Phone:

86 10 8521 0000

Fax:

86 10 8521 0101

Key Executives for New China Life Insurance Co., Ltd.

Chairman
Age: 66
Total Annual Compensation: $6.0M
Supervisor
Age: 54
Total Annual Compensation: $1.8M
Supervisor
Age: 56
Total Annual Compensation: $1.0M
Supervisor
Age: 52
Total Annual Compensation: $700.0K
Supervisor
Age: 38
Compensation as of Fiscal Year 2013.

New China Life Insurance Co., Ltd. Key Developments

New China Life Insurance Co., Ltd. Announces Changes of its Principal Place of Business in Hong Kong

The board of directors of New China Life Insurance Company Ltd. announced that the principal place of business of the company in Hong Kong will be changed to 36/F, Tower Two, Times Square, 1 Matheson Street, Causeway Bay, Hong Kong with effect from 21 January 2015.

Alibaba Reportedly Planning To Buy Stake In New China Life

Alibaba Group Holding Limited (NYSE:BABA) is planning to buy shares in New China Life Insurance Co., Ltd. (SEHK:1336), Shanghai Securities News said citing unnamed sources. The newspaper added, Central Huijin Investment Ltd. holds 31.34% stake in New China Life plans to sell some of its stake to Alibaba. It did not give any details on the size of the deal. An Alibaba spokeswoman declined to comment on what she called market speculation, Reuters reported. A spokesman for New China Life Insurance said, "currently, there is nothing we can tell you."

New China Life Insurance Co., Ltd., Board Meeting, Jan 21, 2015

New China Life Insurance Co., Ltd., Board Meeting, Jan 21, 2015. Agenda: To discuss and approve the issues including the proposal of work plan in 2015; to consider the proposal of agreement on entrusted management of investment in 2015; and to consider the proposal of having Xi'an and Wuhan Health Management Center Injected into NCI Health Investment Management Co., Ltd. by way of capital increase.

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