China Life renews key asset management and investment agreements

China Life Insurance Company Limited (China Life) will renew its asset management and investment agreements with an indirect subsidiary, and another indirect subsidiary. The current agreement with one of the subsidiaries will expire on December 31, 2025, and the new agreement will allow daily transactions including subscription and redemption of fund products and private asset management. Similarly, China Life will renew its agreement for alternative entrusted investment management services, with the current agreement also expiring on December 31, 2025. These renewals are subject to shareholder approval at the upcoming Annual General Meeting on November 6, 2025.

The renewed agreement with one of the subsidiaries is projected to have annual transaction limits of RMB 2,000 million for fund product subscriptions and redemptions, and RMB 20 million for private asset management fees, from 2026 to 2028. The renewed agreement for alternative investment management will see annual limits for new entrusted investment asset signings of RMB 120,000 million (2026), RMB 140,000 million (2027), and RMB 150,000 million (2028), with related service fees capped at RMB 1,100 million, RMB 1,200 million, and RMB 1,300 million respectively.

These transactions are critical for diversifying China Life's investment portfolio, enhancing asset management scale, and boosting fee income. The continued collaboration is expected to support China Life’s overall business development and deliver improved returns for its shareholders. The resolutions were passed by the board of directors, with related parties abstaining from voting.