China Life Insurance abolishes board of supervisors, shifts duties to audit committee

China Life Insurance Company Limited announced that the National Financial Regulatory Administration (NFRA) has approved amendments to its Articles of Association, effective from the date of approval. These changes, initially passed at the company's first extraordinary general meeting on September 25, 2025, mean the company no longer has a board of supervisors.

The functions previously held by the board of supervisors, as specified in the Company Law of the People's Republic of China and regulatory rules, will now be exercised by the audit committee under the board of directors. Consequently, all supervisors, including Mr. Cao Weiqing, Mr. Gu Haishan, Ms. Ye Yinglan, and Mr. Dong Haifeng, retired on the effective date of these amended Articles of Association. Each supervisor confirmed no disagreement with the company regarding their retirement.

The full text of the amended Articles of Association is now accessible on the websites of Hong Kong Exchanges and Clearing Limited and the company. The board of directors includes executive directors Cai Xiliang, Li Mingguang, Liu Hui, Ruan Qi, non-executive directors Wang Junhui, Hu Jin, Hu Rong, Niu Kailong, and independent non-executive directors Lam Chi Kuen, Zhai Haitao, Chen Jie, Lu Feng.