China Life Insurance (02628) rises over 3%, as of the time of writing, up 3.47%, reporting 15.5 Hong Kong dollars, with a transaction volume of 0.555 billion Hong Kong dollars.
According to Zhitung Finance APP, China Life Insurance (02628) rises over 3%, as of the time of writing, up 3.47%, reporting 15.5 Hong Kong dollars, with a transaction volume of 0.555 billion Hong Kong dollars.
On December 6, according to market news, China Life Insurance signed a strategic cooperation agreement with the Agricultural Bank of China in Beijing recently. Both parties take this new round of strategic cooperation as an opportunity to continuously deepen their practical cooperation in key areas such as retirement finance, investment and financing business, and banking insurance agency. Gu Shu, Secretary of the Party Committee and Chairman of the Agricultural Bank of China, stated that China Life Insurance and the Agricultural Bank of China are strategically aligned and complementary in strengths, maintaining a close cooperative relationship in areas such as agency sales, custody, and investment and financing for a long time, and hope to further expand the cooperation areas.
It is noteworthy that on December 3, the National Financial Supervisory Administration issued a reply to the capital supplementary bond issuance of China Life Insurance, agreeing that the company issue 10-year callable capital supplementary bonds in the national inter-bank bond market, with an issuance scale not exceeding 35 billion yuan (inclusive). Chen Hui, Director of the China Actuarial Technology Laboratory at Central University of Finance and Economics, stated that after the implementation of the 'Solvency II Phase II,' insurance companies generally face a greater demand for supplementary capital. In an environment where shareholders encounter obstacles to capital increase, interest rates are low, and there is a significant demand for replacing old bonds, the enthusiasm of insurance companies to issue bonds has increased.