China Life boosts investments, renews key management deals

China Life Insurance Company's board of directors approved several key resolutions, including the renewal of significant investment management agreements. The company will extend its "Insurance Capital Investment Management Cooperation Framework Agreement" with China Life Capital Investment Company Limited, maintaining its role as a limited partner in fund products managed by China Life Capital. This renewal, effective January 1, 2026, until December 31, 2028, has an annual management fee cap of RMB500 million.

Additionally, China Life plans to increase its capital commitment to the China Life Sailing Phase I (Tianjin) Equity Investment Fund Partnership (Limited Partnership) by an additional RMB5 billion, bringing its total recognized capital contribution to RMB18.9 billion. This increased investment, earmarked for real estate projects in first- and strong second-tier Chinese cities, aims to capitalize on assets with low risk, inflation-hedging properties, and stable returns, aligning with the company's long-term asset-liability matching strategy.

The board also approved revisions to various internal governance documents, including the "Rules of Procedure for the Audit Committee of the Board of Directors," the "Complaint Management Regulations for the Audit Committee of the Board of Directors," and the "Compliance Management Measures." These updates and the new "Measures for Centralized Risk Management" enhance the company's operational framework and risk oversight.