China Life Insurance : Summary of Solvency Quarterly Report of Insurance Company (Third Quarter of 2019)

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

中國人壽保險股份有限公司

CHINA LIFE INSURANCE COMPANY LIMITED

(A joint stock limited company incorporated in the People's Republic of China with limited liability)

(Stock Code: 2628)

SUMMARY OF SOLVENCY QUARTERLY REPORT OF

INSURANCE COMPANY NOTE

(THIRD QUARTER OF 2019)

1. BASIC INFORMATION

1. Basic Information of the Company

Name of the Company in Chinese:	中國人壽保險股份有限公司
Name of the Company in English:	China Life Insurance Company Limited
Legal Representative:	Wang Bin
Registered Address:	16 Financial Street, Xicheng District, Beijing, P.R. China
Business Scope:	Life, health, accident and other types of personal insurance
	businesses; reinsurance of the personal insurance
	businesses; funds management business permitted by
	national laws and regulations or approved by the State
	Council; personal insurance services, consulting and
	agency businesses; sale of securities investment funds;
	other businesses approved by the national insurance
	regulatory departments.
Business Area:	the People's Republic of China, for the purpose of this
	report, excluding the Hong Kong Special Administrative
	Region, Macau Special Administrative Region and Taiwan
	region (the "PRC")

Notes: 1. This summary of solvency quarterly report is prepared in accordance with the "Regulatory Rules of Solvency of Insurance Companies (No. 1-17)" issued by the former China Insurance Regulatory Commission.

2. According to the "Plan for Institutional Reform of the State Council" voted and passed at the first meeting of the 13th National People's Congress of the PRC, the China Banking and Insurance Regulatory Commission (the "CBIRC") has been formed through the consolidation of the duties and responsibilities of both the China Banking Regulatory Commission and the China Insurance Regulatory Commission, and such two commissions will no longer exist. The CBIRC has officially been put into operation since April 8, 2018.

1

1. Shareholding Structure, Shareholders and Their Changes
2. 1. Shareholding Structure

Unit: Ten thousand shares or RMB ten thousand

			Changes in the number of shares or shareholding percentage
	At the beginning of the period		during the period		At the end of the period
				Capital reserve
			Capital	transfer or			Shares or
	Shares or capital		injection by	distribution of	Equity		capital
Category	contribution	Percentage (%)	shareholders	dividend	transfer	Sub-total	contribution	Percentage (%)
RMB ordinary shares	2,082,353	73.67	-	-	-	-	2,082,353	73.67
Overseas listed foreign
shares	744,118	26.33	-	-	-	-	744,118	26.33
Total	2,826,471	100.00	-	-	-	-	2,826,471	100.00

Note: Currently, there is no feature in the shareholders' information enquiry platform that can track down the type of shareholders according to the classification of "state-owned shares, corporate legal shares, foreign invested shares and natural person shares". As such, the above information is presented by the Company based on the shareholding structure as disclosed in its annual report.

1. Effective Controller
   The effective controller of the Company is the Ministry of Finance of the PRC. The equity and controlling relationship between the Company and its effective controller is set out below:

Ministry of Finance of the PRC

100%

China Life Insurance (Group) Company

68.37%

China Life Insurance Company Limited

2

1. Top Ten Shareholders (in the descending order of their shareholding percentage in the Company as at the end of the period)

Unit: Ten thousand shares or RMB ten thousand

		Changes in the	Number of shares
		number of shares	held by the
		held by the	shareholder or the
		shareholder or the	amount of capital	Shareholding
		amount of capital	contribution as	percentage as
		contribution	at the end	at the end	Number of shares
Name of shareholder	Type of shares	during the period	of the period	of the period	pledged or frozen
China Life Insurance (Group) Company	State-owned shares	0	1,932,353	68.37%	0
HKSCC Nominees Limited	Foreign shares	103	732,267	25.91%	0
China Securities Finance Corporation Limited	State-owned shares	0	72,394	2.56%	0
Central Huijin Asset Management Limited	State-owned shares	0	11,972	0.42%	0
Hong Kong Securities Clearing Company	Foreign shares	254	4,511	0.16%	0
Limited
China International Television Corporation	State-owned shares	-67	1,700	0.06%	0
China Universal Asset Management Co., Ltd -	Other	0	1,502	0.05%	0
Industrial and Commercial Bank of China
Limited - China Universal - Tianfu
Bull No. 53 Asset Management Plan
Industrial and Commercial Bank of	Other	-208	1,242	0.04%	0
China Limited - SSE 50 Exchange
Traded Index Securities Investment Fund
China National Nuclear Corporation	State-owned shares	0	1,240	0.04%	0
Abudabi Investment Authority	Foreign shares	160	1,024	0.04%	0
Total	-	242	2,760,205	97.66%	0

Notes: 1. The figures shown in the columns of "Changes in the number of shares held by the shareholder or the amount of capital contribution during the period" and "Number of shares held by the shareholder or the amount of capital contribution as at the end of the period" in this table refer to the number of shares held (Unit: Ten thousand shares).

2. Due to the impact of the difference derived from rounding, there is a difference between the total number of "Shareholding percentage as at the end of the period" and the sum of the shareholding percentage of the top ten shareholders.

3

Details of shareholders	1. HKSCC Nominees Limited is a company that holds
	shares on behalf of the clients of the Hong Kong
	stock brokers and other participants of the CCASS
	system. Since the relevant regulations of The Stock
	Exchange of Hong Kong Limited do not require
	such persons to declare whether their shareholdings
	are pledged or frozen, HKSCC Nominees Limited
	is unable to calculate or provide the number of
	shares that are pledged or frozen.

1. 2. China Universal Asset Management Co., Ltd - Industrial and Commercial Bank of China Limited

   • China Universal - Tianfu Bull No.53 Asset Management Plan has Industrial and Commercial Bank of China Limited as its asset trustee . Industrial and Commercial Bank of China Limited
   • SSE 50 Exchange Traded Index Securities Investment Fund has Industrial and Commercial Bank of China Limited as its fund depositary. Save as above, the Company was not aware of any connected relationship and concerted parties as defined by the "Measures for the Administration of the Takeover of Listed Companies" among the top ten shareholders of the Company.
2. Subsidiaries, Joint Ventures and Associated Corporations

Unit: Ten thousand shares or RMB ten thousand

			Number of shares held or cost	Shareholding percentage
			At the			At the
		Type of	beginning of	At the end of	Change in	beginning of	At the end of	Change in
	Company name	company	the period	the period	amount	the period	the period	percentage
1	China Life (Suzhou) Pension and	Subsidiary	178,600	178,600	0	100.00%	100.00%	0.00%
	Retirement Investment Company
	Limited
2	China Life Pension Company	Subsidiary	240,518	240,518	0	70.74%	70.74%	0.00%
	Limited
3	China Life Asset Management	Subsidiary	240,000	240,000	0	60.00%	60.00%	0.00%
	Company Limited

4

			Number of shares held or cost	Shareholding percentage
			At the			At the
		Type of	beginning of	At the end of	Change in	beginning of	At the end of	Change in
	Company name	company	the period	the period	amount	the period	the period	percentage
4	Shanghai Rui Chong Investment Co.,	Subsidiary	680,000	680,000	0	100.00%	100.00%	0.00%
	Limited
5	Golden Phoenix Tree Limited	Subsidiary	12	12	0	100.00%	100.00%	0.00%
6	New Aldgate Limited	Subsidiary	116,813	116,813	0	100.00%	100.00%	0.00%
7	CL Hotel Investor, L.P.	Subsidiary	0	0	0	100.00%	100.00%	0.00%
8	Glorious Fortune Forever Limited	Subsidiary	0	0	0	100.00%	100.00%	0.00%
9	Fortune Bamboo Limited	Subsidiary	243,488	243,488	0	100.00%	100.00%	0.00%
10	Golden Bamboo Limited	Subsidiary	199,288	199,288	0	100.00%	100.00%	0.00%
11	Sunny Bamboo Limited	Subsidiary	187,565	187,565	0	100.00%	100.00%	0.00%
12	China Life (Beijing) Health	Subsidiary	173,000	153,000	-20,000	100.00%	100.00%	0.00%
	Management Company Limited
13	Ningbo Meishan Bonded Port Area	Subsidiary	315,000	315,000	0	99.997%	99.997%	0.00%
	Guo Yang Guo Sheng Investment
	Partnership (Limited Partnership)
14	Ningbo Meishan Bonded Port Area	Subsidiary	168,000	168,000	0	99.98%	99.98%	0.00%
	Bai Ning Investment Partnership
	(Limited Partnership)
15	Shanghai Yuan Shu Yuan Jiu	Subsidiary	60,600	60,600	0	99.98%	99.98%	0.00%
	Investment Management
	Partnership (Limited Partnership)
16	Shanghai Yuan Shu Yuan Pin	Subsidiary	60,600	60,600	0	99.98%	99.98%	0.00%
	Investment Management
	Partnership (Limited Partnership)
17	Shanghai Wansheng Industry	Subsidiary	400,000	400,000	0	99.98%	99.98%	0.00%
	Partnership (Limited Partnership)
18	Wuhu Yuanxiang Tianyi Investment	Subsidiary	53,256	53,256	0	99.98%	99.98%	0.00%
	Management Partnership (Limited
	Partnership)

5

			Number of shares held or cost	Shareholding percentage
			At the			At the
		Type of	beginning of	At the end of	Change in	beginning of	At the end of	Change in
	Company name	company	the period	the period	amount	the period	the period	percentage
19	Wuhu Yuanxiang Tianfu Investment	Subsidiary	53,256	53,256	0	99.98%	99.98%	0.00%
	Management Partnership (Limited
	Partnership)
20	CBRE Global Investors U.S.	Subsidiary	99,328	196,151	96,823	99.99%	99.99%	0.00%
	Investment I, LLC
21	Annoroad Gene Technology	Associated	25,000	25,000	0	13.09%	13.09%	0.00%
	(Beijing) Co., Ltd.	corporation
22	China Life Property and Casualty	Associated	600,000	600,000	0	40.00%	40.00%	0.00%
	Insurance Company Limited	corporation
23	China Guangfa Bank Co., Ltd.	Associated	860,063	860,063	0	43.69%	43.69%	0.00%
		corporation
24	COFCO Futures Company Limited	Associated	29,617	29,617	0	35.00%	35.00%	0.00%
		corporation
25	Sino-Ocean Group Holding Limited	Associated	225,346	225,346	0	29.59%	29.59%	0.00%
		corporation
26	Shanghai Jinshida Winning Software	Associated	19,200	19,200	0	23.08%	23.08%	0.00%
	Technology Co., Limited	corporation
27	GLP U.S. Income Partners II	Associated	317,143	312,361	-4,782	25.25%	25.25%	0.00%
		corporation
28	Sinopec Sichuan to East China Gas	Associated	2,000,000	2,000,000	0	43.86%	43.86%	0.00%
	Pipeline Co., Ltd.	corporation
29	China United Network	Associated	2,182,958	2,182,958	0	10.29%	10.29%	0.00%
	Communications Limited	corporation
30	GLP Guoyi (Zhuhai) Acquisitions	Associated	433,068	527,058	93,990	81.63%	81.63%	0.00%
	Fund (Limited Partnership)	corporation
31	China Power Investment Nuclear	Associated	800,000	800,000	0	26.76%	26.76%	0.00%
	Power Co,. Ltd.	corporation
32	Zhonghang Investment Holding	Associated	600,000	600,000	0	16.70%	16.70%	0.00%
	Limited	corporation

6

			Number of shares held or cost	Shareholding percentage
			At the			At the
		Type of	beginning of	At the end of	Change in	beginning of	At the end of	Change in
	Company name	company	the period	the period	amount	the period	the period	percentage
33	Nanning China Life Shenrun	Joint	378,000	378,000	0	60.00%	60.00%	0.00%
	Investment Development Fund	venture
	Partnership (Limited Partnership)
34	China Life (Sanya) Health	Joint	30,600	30,600	0	51.00%	51.00%	0.00%
	Investments Co., Ltd.	venture
35	RXR 1285 Holdings JV LLC	Joint	151,497	151,497	0	51.55%	51.55%	0.00%
		venture
36	Beijing China Life Communications	Joint	1,039,994	1,039,994	0	49.9999%	49.9999%	0.00%
	Construction City Development	venture
	Investment Fund (Limited
	Partnership)
37	China Life Haikong (Hainan)	Joint	10,200	10,200	0	51.00%	51.00%	0.00%
	Healthy Investment Co., Ltd.	venture
38	China Life Wanke No.1 (Jiaxing)	Joint	9,750	9,750	0	59.82%	59.82%	0.00%
	Health Pension Industrial	venture
	Investment Partnership (Limited
	Partnership)
39	China Life Wanke No.2 (Jiaxing)	Joint	9,750	9,750	0	59.82%	59.82%	0.00%
	Health Pension Industrial	venture
	Investment Partnership (Limited
	Partnership)
40	China Life Qiaocheng (Shenzhen)	Joint	851,394	851,394	0	84.99%	84.99%	0.00%
	Investment Partnership (Limited	venture
	Partnership)
41	Shandong Xinjiu Kinetic Energy	Joint	0	1,000	1,000	0.00%	79.00%	79.00%
	China Life High-end Equipment	venture
	Equity Investment Fund
	Partnership (Limited Partnership)

Note: The figures shown in the "Number of shares held or cost" column under items numbered 1, 4-22 and 26-41 in this table refer to the amount of investment cost (Unit: RMB ten thousand).

7

1. Basic Information of the Directors, Supervisors and Senior Management
2. 1. Basic Information of the Directors

					Approval	Positions and
		Academic			document	part-time jobs
	Month and	qualification	Commencement		No. for job	held in affiliates	Key working experience in the
Name	year of birth	(degree)	date	Position	qualification	and other entities	recent five years
Wang Bin	November	Doctoral degree	Since December	Chairman,	Yin Bao Jian Fu	Chairman of China Life	Mr. Wang became an Executive
	1958	in Economics	3, 2018	Executive	(2018) No. 322	Insurance (Group) Company	Director and the Chairman of the
				Director			Company in December 2018. He has
						Chairman of China Life Asset	been the Chairman of China Life
						Management Company Limited	Insurance (Group) Company since
							August 2018. From March 2012
						Chairman of China Life	to August 2018, he served as the
						Insurance (Overseas) Company	Chairman and the Secretary to the
						Limited	Party Committee of China Taiping
							Insurance Group Ltd.
						Director of China Shimao
						Investment Company Limited
						Director of China World Trade
						Center Limited
						Chairman of China Guangfa
						Bank Co., Ltd.
Su Hengxuan	February 1963	Doctoral degree	Since December	Executive	Yin Bao Jian	Vice President of China Life	Mr. Su became an Executive Director
		in Management	20, 2018	Director	Xu Ke (2018)	Insurance (Group) Company	of the Company in December 2018.
					No. 562		He was appointed by the Board of
						CPPCC member of Xicheng	Directors as the President of the
						District, Beijing	Company in December 2018. He has
							been the Vice President of China Life
						Director of China Life Asset	Insurance (Group) Company since
						Management Company Limited	December 2017. He was the President
							of China Life Pension Company
						Director of China Life Pension	Limited from March 2015 to February
						Company Limited	2018. He was the Vice President of
							the Company from 2013 to May 2015.
						Director of China Life Property
						and Casualty Insurance
						Company Limited

8

					Approval	Positions and
		Academic			document	part-time jobs
	Month and	qualification	Commencement		No. for job	held in affiliates	Key working experience in the
Name	year of birth	(degree)	date	Position	qualification	and other entities	recent five years
Li	July 1969	Master's degree	Since August 16,	Executive	Jing Yin Bao	Executive Director of the China	Mr. Li became an Executive Director
Mingguang		in Economics,	2019	Director	Jian Fu (2019)	Association of Actuaries	of the Company in August 2019.
		EMBA for			No. 635		He has been the Board Secretary
		the senior				Chief Actuary of China Life	of the Company since June 2017,
		management				Pension Company Limited	the Vice President of the Company
							since November 2014 and the Chief
							Actuary of the Company since March
							2012.
Yuan	September	Master's degree	Since February	Non-	Bao Jian Xu Ke	Vice Chairman and President of	Mr. Yuan became a Non-executive
Changqing	1961	in Business	11, 2018	executive	(2018) No. 196	China Life Insurance (Group)	Director of the Company in February
		Administration		Director		Company	2018. He is the Vice Chairman,
							President and Deputy Secretary
						Director of China Life Asset	to the Party Committee of China
						Management Company Limited	Life Insurance (Group) Company.
							Mr. Yuan served as the Chairman
						Chairman of China Life Pension	of the Supervisory Committee and
						Company Limited	the Deputy Secretary to the Party
							Committee of Agricultural Bank
						Chairman of China Life	of China Limited from April 2015
						Property and Casualty Insurance	to May 2017. He served as the
						Company Limited	Deputy General Manager and the
							Secretary to the Discipline Inspection
						Director of China Shimao	Committee of China Everbright
						Investment Company Limited	Group Corporation Limited from
							November 2014 to April 2015, and
						Director of China World Trade	an Executive Director, the Deputy
						Center Limited	General Manager and the Secretary to
							the Discipline Inspection Committee
						Vice Chairman of the China	of China Everbright Group Limited
						Chamber of International	from August 2012 to November 2014,
						Commerce	during which he concurrently acted as
							the Chairman of Everbright Securities
						Vice Chairman of the National	Company Limited.
						Association of Financial Market
						Institutional Investors

9

					Approval	Positions and
		Academic			document	part-time jobs
	Month and	qualification	Commencement		No. for job	held in affiliates	Key working experience in the
Name	year of birth	(degree)	date	Position	qualification	and other entities	recent five years
Liu Huimin	June 1965	Doctoral degree	Since July 31,	Non-	Bao Jian Xu Ke	Vice President of China Life	Mr. Liu became a Non-executive
		in Law	2017	executive	(2017) No. 897	Insurance (Group) Company	Director of the Company in July
				Director			2017. He has been the Vice President
						Vice Chairman of the Insurance	of China Life Insurance (Group)
						Society of China	Company since September 2013. He
							served as the President of China Life
						Executive Director of the China	Asset Management Company Limited
						Center for Insurance and Social	from September 2013 to August 2016.
						Security Research (CCISSR) of
						Peking University
						Director of China Life Pension
						Company Limited
						Chairman of China Life
						E-commerce Company Limited
Yin Zhaojun	July 1965	Master's degree	Since July 31,	Non-	Bao Jian Xu Ke	Vice President of China Life	Mr. Yin became a Non-executive
		in Public	2017	executive	(2017) No. 897	Insurance (Group) Company	Director of the Company in July
		Administration		Director			2017. He has been the Vice President
						Chairman of China Life	of China Life Insurance (Group)
						Investment Holding Company	Company since October 2016. He
						Limited	successively served as the President
							of Shanxi Branch, Hebei Branch
						President of China Guangfa	and Beijing Branch of the Bank of
						Bank Co., Ltd.	Communications from 2011.
						Head of Shanghai Headquarters
						of China Life Insurance (Group)
						Company
						Director of China United
						Network Communications
						Limited
						Chairman of China Insurance
						Building Co., Ltd.
						Chairman of the second session
						of the Statistics Professional
						Committee of the Insurance
						Association of China
						Vice Chairman of the Banking
						Accounting Society of China

10

					Approval	Positions and
		Academic			document	part-time jobs
	Month and	qualification	Commencement		No. for job	held in affiliates	Key working experience in the
Name	year of birth	(degree)	date	Position	qualification	and other entities	recent five years
Wang Junhui	July 1971	Doctoral degree	Since August 16,	Non-	Jing Yin Bao	Chief Investment Officer of	Mr. Wang became a Non-executive
		in Finance	2019	executive	Jian Fu (2019)	China Life Insurance (Group)	Director of the Company in August
				Director	No. 635	Company	2019. He has been the Chief
							Investment Officer of China Life
						Chairman of China Life	Insurance (Group) Company since
						Franklin Asset Management	August 2016, the Chairman of China
						Company Limited	Life Franklin Asset Management
							Company Limited since September
						Chairman of China Life AMP	2016 and the Chairman of China Life
						Asset Management Co., Ltd.	AMP Asset Management Co., Ltd.
							since December 2016. From 2004 to
							2016, he served as an Assistant to
							the President and the Vice President
							of China Life Asset Management
							Company Limited, and the President
							of China Life Investment Holding
							Company Limited.
Chang	November	Bachelor's degree	Since October 20,	Independent	Bao Jian Xu Ke	Independent Non-executive	Mr. Chang became an Independent
Tso Tung	1948	in Science	2014	Director	(2014) No. 864	Director of Kerry Properties	Director of the Company in October
Stephen						Limited	2014.
						Independent Non-executive
						Director of China Cinda Asset
						Management Co., Ltd.
						Independent Non-executive
						Director of Hua Hong
						Semiconductor Limited
Robinson	October 1951	Master's degree	Since July 11,	Independent	Bao Jian Xu Ke	Director of Yale-China	Mr. Pike became an Independent
Drake Pike		in Economics	2015	Director	(2015) No. 718	Association	Director of the Company in July
							2015. He served as the Managing
							Director of Goldman Sachs and the
							Chief Representative of the Beijing
							Representative Office of Goldman
							Sachs International Bank UK from
							August 2011 to May 2014.

11

					Approval	Positions and
		Academic			document	part-time jobs
	Month and	qualification	Commencement		No. for job	held in affiliates	Key working experience in the
Name	year of birth	(degree)	date	Position	qualification	and other entities	recent five years
Tang Xin	September	Doctorate degree	Since March 7,	Independent	Bao Jian Xu Ke	Member of the Listing	Mr. Tang became an Independent
	1971	in Law	2016	Director	(2016) No. 150	Committee of the Shanghai	Director of the Company in March
						Stock Exchange	2016. He served as an Independent
							Director of China Spacesat Co., Ltd.
						Chairman of the Independent	from 2008 to 2014, an Independent
						Director Committee of the	Director of each of SDIC Power
						China Association for Public	Holdings Co., Ltd. and Changjiang
						Companies	Securities Company Limited from
							2009 to 2013, and an Independent
						Independent Director of Harvest	Director of Beijing Rural Commercial
						Fund Management Co., Ltd.	Bank Co., Ltd. from 2009 to 2015.
						Independent Director of GF
						Securities Co., Ltd.
						Independent Director of Oriza
						Holdings Co., Ltd.
Leung Oi-Sie	April 1939	Master's degree	Since July 20,	Independent	Bao Jian Xu Ke	Consultant of Iu, Lai & Li	Ms. Leung became an Independent
Elsie		in Law	2016	Director	(2016) No. 717	Solicitors & Notaries	Director of the Company in July
							2016. She has been an Independent
						Consultant of Fok Ying Tung	Non-executive Director of United
						Ming Yuan Development	Company RUSAL Plc since
						Company Limited	December 2009, and an Independent
							Non-executive Director of China
						Independent Non-executive	Resources Power Holdings Company
						Director of United Company	Limited since April 2010. She has
						RUSAL Plc	been an Independent Non-executive
							Director of PetroChina Company
						Independent Non-executive	Limited since June 2017.
						Director of China Resources
						Power Holdings Company
						Limited
						Independent Non-executive
						Director of PetroChina
						Company Limited

12

1. Basic Information of the Supervisors

					Approval	Positions and
		Academic			document	part-time jobs
	Month and	qualification	Commencement		No. for job	held in affiliates	Key working experience in the
Name	year of birth	(degree)	date	Position	qualification	and other entities	recent five years
Jia Yuzeng	June 1962	Master's degree	Since July 11,	Chairman of	Yin Bao Jian Xu		Mr. Jia became the Chairman of the
		in Business	2018	the Board of	Ke (2018) No.		Board of Supervisors of the Company
		Administration		Supervisors	562		in July 2018. From 2013 to 2018,
							he served as the Vice President and
							the Board Secretary of China Life
							Pension Company Limited.
Luo Zhaohui	March 1974	Doctoral degree	Since February	Supervisor	Bao Jian Xu Ke	Deputy General Manager	Mr. Luo became a Supervisor of
		in Finance	11, 2018		(2018) No. 196	of Strategic Planning	the Company in February 2018. He
						Department of China Life	was appointed as an Assistant to the
						Insurance (Group) Company	General Manager of the Strategic
							Planning Department of China Life
							Insurance (Group) Company in
							August 2013. He was seconded to
							Shijiazhuang Branch of the Company
							in Hebei Province as the Deputy
							General Manager during the period
							from November 2013 to October
							2015, and was then appointed as
							the Deputy General Manager of
							the Strategic Planning Department
							of China Life Insurance (Group)
							Company in July 2016.
Han Bing	November	Bachelor's degree	Since July 12,	Supervisor	Jing Yin Bao		Mr. Han became a Supervisor of
	1971	in Economics	2019		Jian Fu (2019)		the Company in July 2019. He has
					No. 492		been the General Manager of the
							Human Resources Department of the
							Company since December 2018. He
							served as the General Manager of
							the Human Resources Department of
							China Life Pension Company Limited
							from March 2016 to December 2018.
							During the period from 2014 to 2016,
							he successively served as the Deputy
							General Manager of Ningbo Branch,
							and the Deputy General Manager of
							Tibet Autonomous Region Branch of
							the Company.

13

					Approval	Positions and
		Academic			document	part-time jobs
	Month and	qualification	Commencement		No. for job	held in affiliates	Key working experience in the
Name	year of birth	(degree)	date	Position	qualification	and other entities	recent five years
Song Ping	June 1964	Bachelor of Arts	Since March 15,	Employee	Bao Jian Xu Ke		Mr. Song became a Supervisor of
		degree	2018	Representative	(2018) No. 331		the Company in March 2018. He
				Supervisor			has been a member of the Party
							Committee of Jiangsu Branch of
							the Company since August 2019.
							He served as the General Manager
							of the Administration Office of
							the Company from January 2017
							to August 2019. From 2006 to
							2017, he successively served as an
							Assistant to the General Manager
							of the Development and Reform
							Department, an Assistant to the
							General Manager of Beijing Branch,
							the Deputy General Manager of the
							Legal and Compliance Department,
							the Deputy General Manager of
							the Human Resources Department,
							and the General Manager of the
							E-Commence Department of the
							Company.
Cao	May 1963	Doctoral degree	Since July 12,	Employee	Jing Yin Bao		Mr. Cao became a Supervisor of the
Qingyang		in Economics	2019	Representative	Jian Fu (2019)		Company in July 2019. He has been
				Supervisor	No. 492		the General Manager of the Product
							Development Department of the
							Company since February 2011.

14

1. Basic Information of the Senior Management of the Head Office

					Approval	Positions and
		Academic			document	part-time jobs
	Month and	qualification	Commencement		No. for job	held in affiliates	Key working experience in the
Name	year of birth	(degree)	month and year	Position	qualification	and other entities	recent five years
Zhao Peng	April 1972	Master's degree	As Vice President	Vice President,	Bao Jian Xu Ke		Mr. Zhao became the person in charge
		in Business	since March	Financial	(2017) No. 1202		of finance of the Company in July
		Administration	2018, and	Controller			2019, and the Vice President of the
		and Master's	as Financial		Jing Yin Bao		Company in March 2018. He served
		degree in	Controller since		Jian Fu (2019)		as an Assistant to the President of
		Economics	July 2019		No. 443		the Company from October 2017 to
							March 2018. From 2014 to 2017, he
							successively served as the Deputy
							General Manager (at the general
							manager level of the provincial
							branches) and the person-in-charge
							(at the general manager level of the
							provincial branches) and the General
							Manager of Zhejiang Branch of the
							Company.
Ruan Qi	July 1966	EMBA for	April 2018	Vice President	Yin Bao Jian Xu		Mr. Ruan became the Vice President
		the senior			Ke (2018) No.		of the Company in April 2018.
		management			63		He served as the Chief Information
							Technology Officer of the Company
							from October 2016 to April 2018.
							He successively served as the
							General Manager of China Life Data
							Center and the General Manager
							(at the general manager level of
							the provincial branches) of the
							Information Technology Department
							of the Company from 2014 to 2016.

15

					Approval	Positions and
		Academic			document	part-time jobs
	Month and	qualification	Commencement		No. for job	held in affiliates	Key working experience in the
Name	year of birth	(degree)	month and year	Position	qualification	and other entities	recent five years
Zhan Zhong	April 1968	Bachelor's degree	July 2019	Vice President	Jing Yin Bao		Mr. Zhan became the Vice President
		in Engineering			Jian Fu (2019)		of the Company in July 2019. He
					No. 493		served as the Marketing Director of
							the Company from August 2017 to
							July 2019 and a Supervisor of the
							Company from July 2015 to August
							2017. He served as the General
							Manager (at the general manager
							level of provincial branches) of the
							Individual Insurance Division from
							July 2014 to August 2017.
Yang Hong	February 1967	EMBA for	July 2019	Vice President	Jing Yin Bao		Ms. Yang became the Vice President
		the senior			Jian Fu (2019)		of the Company in July 2019. She
		management			No. 493		served as the Operation Director of
							the Company from March 2018 to
							July 2019. Ms. Yang has been the
							General Manager of the Operation
							Service Center of the Company since
							January 2018. She successively
							served as the Deputy General
							Manager (responsible for daily
							operations) and General Manager
							of the Research and Development
							Center, the General Manager (at
							the general manager level of the
							provincial branches) of the Business
							Management Department and the
							General Manager (at the general
							manager level of the provincial
							branches) of the Business Process
							Management Department of the
							Company from 2011 to 2018.
Xu	October 1969	Doctoral degree	July 2018	Compliance	Yin Bao Jian Xu		Mr. Xu has been the Compliance
Chongmiao		in Law		Officer,	Ke (2018) No.		Officer of the Company since July
				General	593		2018 and the General Manager of the
				Manager of			Legal and Compliance Department of
				the Legal and			the Company since September 2014.
				Compliance
				Department

16

Notes:

1. 1. All information set forth in this table is as at the end of the reporting period, and this table only provides the basic information of the senior management officers of the Head Office who are not Directors or Supervisors. For details of other senior management officers of the Head Office, please refer to the tables under the basic information of the Directors and Supervisors.
   2. The changes of the Directors, Supervisors and senior management during the reporting period and as at the disclosure date of this report:
   3. 1. As approved at the twelfth meeting of the sixth session of the Board of Directors and as approved by the CBIRC Beijing Bureau, Mr. Zhao Peng was appointed as the Financial Controller of the Company with effect from July 1, 2019.
      2. As approved at the fourteenth meeting of the sixth session of the Board of Directors and as approved by the CBIRC Beijing Bureau, each of Mr. Zhan Zhong and Ms. Yang Hong was appointed as the Vice President of the Company with effect from July 12, 2019.
      3. The qualification of Mr. Cao Qingyang as an Employee Representative Supervisor and the qualification of Mr. Han Bing as a Non-employee Representative Supervisor of the Company have been approved by the CBIRC Beijing Bureau on July 12, 2019.
      4. Mr. Tang Yong and Mr. Huang Xin tendered letters of resignation to the Company on July 22, 2019, resigning from their respective positions as a Non-employee Representative Supervisor and an Employee Representative Supervisor of the Company.
      5. Due to the adjustment of work arrangement, Mr. Zhao Lijun tendered his resignation to the Board of Directors on July 8, 2019, resigning from his position as the Financial Controller of the Company with effect from the same day. He has no longer served as the Vice President of the Company since August 2019.
      6. As approved by the CBIRC Beijing Bureau, the appointment of Mr. Li Mingguang as an Executive Director and the appointment of Mr. Wang Junhui as a Non-executive Director of the Company have become effective from August 16, 2019.
2. Contact Person and Contact Information with Respect to the Public Disclosure of Solvency Information

Name of Contact Person:	He Zheng
Office Phone Number:	010-63631371
Fax Number:	010-66575722
E-mail:	[e-mail]

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2. KEY INDICATORS

		Unit: RMB ten thousand
	Figures of the	Figures of the
Items	Current Quarter	Preceding Quarter
Core solvency surplus	55,913,548.06	53,021,416.49
Core solvency ratio	262.00%	258.62%
Comprehensive solvency surplus	59,413,904.06	56,521,716.81
Comprehensive solvency ratio	272.14%	269.09%
Gross written premiums	11,907,100.56	10,562,278.13
Net profit	2,006,575.33	1,184,254.55
Net asset	38,774,284.06	36,755,526.08

Note: Gross written premiums, net profit and net asset are prepared in accordance with the China Accounting Standards for Business Enterprises.

The result of the integrated risk rating of the Company in the recent quarter (being the second quarter of 2019) was A Category.

3.	ACTUAL CAPITAL
				Unit: RMB ten thousand
			Figures of the	Figures of the
		Items	Current Quarter	Preceding Quarter
		Admitted assets	356,988,074.08	344,551,031.65
		Admitted liabilities	263,060,149.30	254,602,355.40
		Actual capital	93,927,924.78	89,948,676.25
		Core tier one capital	89,648,411.77	85,669,218.91
		Core tier two capital	779,157.01	779,157.01
		Supplementary tier one capital	3,500,356.00	3,500,300.33
		Supplementary tier two capital	0	0

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4. MINIMUM CAPITAL

		Unit: RMB ten thousand
	Figures of the	Figures of the
Items	Current Quarter	Preceding Quarter
Minimum capital for quantitative risk	35,388,106.96	34,273,515.26
Minimum capital for life insurance risk	7,441,910.82	7,178,195.85
Minimum capital for non-life insurance risk	674,170.32	622,141.38
Minimum capital for market risk	34,593,533.07	33,662,008.31
Minimum capital for credit risk	5,789,491.12	5,463,795.89
Quantitative risk diversification effect	7,545,474.96	7,193,006.36
Loss absorption effect of special types of
insurance contracts	5,565,523.41	5,459,619.82
Minimum capital for control risk	-874,086.24	-846,555.83
Additional minimum capital	0	0
Counter-cyclical additional minimum capital	0	0
Additional minimum capital for DSII	0	0
Additional minimum capital for GSII	0	0
Other additional minimum capital	0	0
Minimum capital	34,514,020.72	33,426,959.43

Note: Due to rounding, there may be difference between the total amount and the sum of individual amounts.

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1. INTEGRATED RISK RATING
   The Integrated Risk Rating (IRR), i.e. the classification regulation, is a regulatory exercise in which the CBIRC conducts a comprehensive analysis of and assessment on the inherent risks and control risks of insurance companies by using a risk-oriented approach and based on the relevant information, classifies such insurance companies into different regulatory categories according to their respective solvency risks, and adopts regulatory policies or measures in respect thereof accordingly.
   The CBIRC conducts assessment on the IRR of the Company on a quarterly basis. The results of the IRR of the Company in the recent two quarters (being the second and first quarter of 2019) were both A Category.
2. RISK MANAGEMENT
   The CBIRC conducts assessments on the solvency risk management of insurance companies on a regular basis. The CBIRC conducted an assessment of Solvency Aligned Risk Management Requirement and Assessment (SARMRA) on 35 insurance companies in 2018. According to the "Notice Concerning the 2018 SARMRA Assessment Results" (Yin Bao Jian Cai [2018] No. 125), the Company got a score of 84.94 in the assessment and the respective scores in nine areas are as follows: 17.76 in the foundation and environment of risk management, 8.41 in the objectives and tools of risk management, 8.60 in insurance risk management, 8.65 in market risk management, 8.61 in credit risk management, 8.59 in operational risk management, 8.77 in strategic risk management, 7.34 in reputational risk management, and 8.22 in liquidity risk management.

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7. LIQUIDITY RISK

1) Regulatory Indicators of Liquidity

	Unit: RMB million
	Figures of the
Name of Indicators	Current Quarter
Actual net cash flows	7,132
Comprehensive liquidity ratio	-
Comprehensive liquidity ratio within 3 months	123%
Comprehensive liquidity ratio within 1 year	2254%
Comprehensive liquidity ratio within 1-3 years	-234%
Comprehensive liquidity ratio within 3-5 years	-1266%
Comprehensive liquidity ratio beyond 5 years	23%
Overall liquidity coverage of the Company	-
Stressed scenario 1	6381%
Stressed scenario 2	5545%

Notes:

1. Actual net cash flows refers to the net cash flows of the Company actually occurred during the reporting period;

			Expected total cash inflow of existing assets
2.	Comprehensive liquidity ratio =			× 100%;
		Expected total cash outflow of existing liabilities

1. 1. Stressed scenario 1 refers to the hypothetical scenario where the premiums from signed policies decrease by 80% as compared with the corresponding period of last year, and the surrender rate assumption is twice of that in the basic scenario (but the surrender rate does not exceed 100%);
   2. Stressed scenario 2 refers to the hypothetical scenario where the principal and interest of 20% of the fixed income investment which will become mature during the forecasting period cannot be repaid.
2. Analysis of Liquidity Risk and Measures Addressing Such Risk
   The Company has sufficient cash flows. Pursuant to the requirements of the "Regulatory Rules of Solvency of Insurance Companies No. 12: Liquidity Risk" and the relevant regulations, the Company has established a well-developed liquidity risk management mechanism to monitor various regulatory indicators for liquidity risk on a quarterly basis, with a view to preventing liquidity risk in an effective manner.

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8. REGULATORY MEASURES ADOPTED BY REGULATORY AUTHORITIES AGAINST THE COMPANY

During the reporting period, there were no circumstances where the CBIRC had adopted any significant regulatory measures against the Company.

By Order of the Board

China Life Insurance Company Limited

Heng Victor Ja Wei

Company Secretary

Hong Kong, October 29, 2019

As at the date of this announcement, the board of directors of the Company comprises:

Executive Directors:	Wang Bin, Su Hengxuan, Li Mingguang
Non-executive Directors:	Yuan Changqing, Liu Huimin, Yin Zhaojun,
	Wang Junhui
Independent Non-executive Directors:	Chang Tso Tung Stephen, Robinson Drake Pike,
	Tang Xin, Leung Oi-Sie Elsie

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