China Life Insurance (Group) Company is a state-owned and large financial insurance company headquartered in Beijing, one of the world's top 500 companies, a Chinese top 500 brand, and a national deputy ministerial unit.  The company's predecessor was the former People's Insurance Company of China, which was established in 1949. It was renamed China Insurance Life Insurance Co., Ltd. in 1996 and renamed China Life Insurance Company in 1999.
In 2003, with the approval of the State Council and the approval of the China Insurance Regulatory Commission, the former China Life Insurance Company was reorganized and restructured into a China Life Insurance (Group) Company. , E-commerce, and many other fields, and has participated in many financial and non-financial institutions such as banks and securities companies through capital operations.
China Life Insurance (Group) Company and its subsidiaries constitute China's largest state-owned financial insurance group. In 2013, total premium income reached 386.8 billion yuan, the domestic life insurance business market share was 31.6%, and total assets reached 2,407.1 billion yuan. It is one of the largest institutional investors in China's capital market. For the 13th consecutive year, he was selected as the Fortune Global 500, ranked 54th; for the 7th consecutive year, he was selected as the World Top 500 Brands, ranked 237th, and the China Brand Value Research Institute China Top 500 Brands, ranked 15th.  Subsidiary life insurance companies returned to the domestic A-share market in January 2007, following the simultaneous listing in New York and Hong Kong in December 2003, becoming the “first insurance company” in the mainland capital market and the first in the world in New York Insurance companies listed in Hong Kong, Hong Kong and Shanghai have become the world's largest listed life insurance companies by market value . In August 2016, China Life Insurance (Group) Company ranked 12th among the 2016 Top 500 Chinese Enterprises. 
The group company has a strong leadership team. Yang Mingsheng is the company's party committee secretary and chairman. The team members include Miao Jianmin, Chen Fanglei, Zhang Xiangxian, Wang Sidong, Cui Lanqin, Liu Huimin, Bai Tao, and Liu Jiade.