New China Life Insurance

Corporate brand

A Chinese life insurance group serving individual and institutional customers through life, health, accident, and annuity insurance products.

Last updated October 9, 2026

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Overview

New China Life Insurance Co., Ltd., commonly known as New China Insurance or Xinhua Insurance, is a Chinese insurance company headquartered in Beijing. Its principal business is life insurance, supplemented by health insurance, accident insurance, and annuity products. The company operates primarily in mainland China and is one of the larger publicly traded insurers in the Chinese market. The company has a significant state-linked ownership structure. According to the referenced company information, the Chinese government controls more than half of its shares through Central Huijin Investment, China Baowu Steel Group, and other state-related financial institutions. Swiss Re and Fosun International were also among disclosed shareholders in the referenced 2015 ownership information, alongside public-market and institutional investors. New China Life is listed in both mainland China and Hong Kong, with A shares traded on the Shanghai Stock Exchange under 601336 and H shares traded in Hong Kong under 1336. It has been included in major Chinese and regional equity benchmarks, including the CSI 300 Index, the FTSE China A50 Index, and the Hang Seng China Enterprises Index. It was formerly included in the SSE 50 Index. Its insurance model combines the collection of premiums with long-term investment of insurance funds. The referenced material notes equity investments in publicly traded Chinese companies, including Hikvision, Industrial Bank, and Tianqi Lithium, illustrating the importance of investment management alongside underwriting in the company’s business model. The company was also listed in the 2016 editions of the Fortune Global 500 and Forbes Global 2000 rankings. The available reference material provides limited detail about the company’s founding history, management, individual product names, distribution channels, and current operating performance. Those details are therefore not supplied here rather than inferred.

History

New China Life Insurance is a Beijing-based Chinese insurance group whose principal identity is as a life insurer. The available reference material does not establish a founding year or provide a detailed chronological account of the company’s early development, so those facts are left unspecified. The company’s later profile is defined by three characteristics: a broad life-insurance business, a state-linked shareholder base, and public-market access in both Shanghai and Hong Kong. Its activities extend beyond the issuance of protection policies. Like other large insurers, it invests premium income, and the referenced material identifies holdings in several publicly traded Chinese companies. These investments included positions in Hikvision, Industrial Bank, and Tianqi Lithium during 2015. The ownership structure described in the reference material gives the company a strong connection to China’s state-controlled financial system. Central Huijin Investment and China Baowu Steel Group were identified among the major shareholders, while the State Council was listed as the ultimate state interest in the cited ownership table. Other disclosed shareholders included Swiss Re, Fosun International, China Securities Finance, and BlackRock. The ownership figures cited relate to 31 December 2015 and should not be treated as a current cap table. New China Life’s dual listing under 601336.SH and 1336.HK places it within both mainland Chinese and Hong Kong capital markets. The company has appeared in prominent benchmark indexes, including the CSI 300, FTSE China A50, and Hang Seng China Enterprises indexes, and was formerly a constituent of the SSE 50. Its presence in the 2016 Fortune Global 500 and Forbes Global 2000 rankings reflects its scale at that time, although those rankings do not describe its current position. The available sources do not provide sufficient information to document specific corporate campaigns, named product launches, leadership transitions, regulatory cases, or a complete sequence of corporate milestones. No such items are added without supporting material.

2024
Brand value rises to RMB 103.829 billion, up 15%, ranking 83rd in the China 500 Most Valuable Brands report.
2023
Cumulative investment serving the real economy exceeds RMB 920 billion.
2022
As a first-batch pilot for exclusive commercial pension insurance, includes "Zhuoyue Youxuan" in the personal pension product category.
2021
First large CCRC community, Xinhua Jiayuan Yixiang Community in Yanqing, Beijing, is unveiled, completing the three community product lines.
2020
Donates insurance protection to nearly 200,000 medical workers in Wuhan via its public welfare foundation.
2019
Party organization relationship transferred to the CIC Party committee.
2017
Launches the "Caring for Sanitation Workers Nationwide" public welfare campaign.
2016
Enters both the Fortune and Forbes Global 500 lists.
2011
Completes IPO with simultaneous listings on the Hong Kong Stock Exchange and Shanghai Stock Exchange, the first domestic insurer to achieve a synchronized A+H listing.
2009
Central Huijin becomes the largest shareholder, improving corporate governance.
2004
With branches opened in Inner Mongolia, Ningxia, Guizhou and Qinghai, provincial branches reach 34, essentially completing nationwide coverage.
2001
Launches "Jianle Zeng'e ZhongShen Zhongda Jibing Baoxian," described as China's first participating health product.
1996
New China Life Insurance is established in September; opening ceremony held at the Great Hall of the People.

Products and positioning

A large, state-linked Chinese life insurer serving mass-market and relatively higher-value protection, savings, retirement, and health needs.

Life insurance
Life insurance
The company’s core business consists of life insurance products designed to provide financial protection and, depending on policy structure, long-term savings or accumulation benefits. The supplied reference material identifies life insurance as a principal category but does not provide individual policy names, launch dates, or detailed terms.
Health insurance
Health insurance
Health insurance is one of the company’s stated product categories. It forms part of the insurer’s broader protection offering, although the available sources do not specify the precise coverage designs, customer segments, product families, or distribution arrangements currently associated with this line.
Accident insurance
Accident insurance
Accident insurance is included among New China Life’s typical products and complements its longer-term life and health protection business. The supplied material does not identify named accident policies or provide enough information to describe their benefits, pricing, or launch history.
Annuity insurance
Annuity insurance
Annuity insurance is another identified product category, supporting long-term income, savings, or retirement-oriented needs depending on policy design. No specific New China Life annuity product names, launch dates, or contractual features are established by the supplied references.

Controversies

2025
Former chairman Li Quan sentenced to death with two-year reprieve at first instance for embezzlement and bribery
On November 19, 2025, the Jinan Intermediate People's Court, at first instance, imposed a combined punishment for multiple crimes in the embezzlement and bribery case of Li Quan, former chairman of New China Life Insurance, and decided to execute the death penalty with a two-year reprieve. The court found that he embezzled more than 108 million yuan and accepted more than 105 million yuan in bribes, involving his positions at New China Asset Management and New China Life Insurance.
Source
2023
Former chairman Wan Feng sentenced to six years and six months at first instance in bribery case
According to reports of a court sentencing on December 27, 2023, Wan Feng, former chairman of New China Life Insurance, was sentenced to six years and six months in prison and a fine of 700,000 yuan for bribery. The court found that he illegally accepted property worth more than 12.09 million yuan.
Source

2026-09-29
New China Life Insurance raises stake in Guotai Haitong H-shares to 20.24%, triggering stake-disclosure filing[9]新华保险增持国泰海通H股触发举牌合计持股达20.24%finance.jrj.com.cn
New China Life Insurance (新华保险) announced on October 9 that on September 29, 2026 it purchased 9.9596 million H-shares of Guotai Haitong (02611.HK) through centralized bidding on the secondary market, equal to about 0.28% of Guotai Haitong's issued H-shares. The change triggered the stake-disclosure (jupai) threshold, lifting the combined holding of New China Life Insurance and its concert parties from about 19.96% (roughly 700 million shares) to 20.24% (about 710 million shares), and the company said it plans to manage the Guotai Haitong investment under equity-class investment management.
Unconfirmed
Xinhua Insurance wins ESG Green Company Star award[10]新华保险荣获“ESG绿色公司之星”heze.sdnews.com.cn
Xinhua Insurance received the “ESG Green Company Star” award, announced by China Investment Times and the Biaodian Finance Research Institute.
2021-03-15
Xinhua Insurance upgrades customer service commitments[11]新华保险升级客户服务承诺finance.cqnews.net
Reported: 2021-03-15
Xinhua Insurance announced that its 2021 customer service commitments had been upgraded, emphasizing full-process service, greater service intelligence, and improvements to service quality and customer experience.
2021-01-08
新华保险 wins the 2020 Evergreen Award for Sustainable Development Innovation[12]新华保险荣获2020年长青奖“可持续发展创新奖”economy.nmgnews.com.cn
新华保险 received the Sustainable Development Innovation Award at the 2021 Caijing Sustainability Summit and Evergreen Awards ceremony on January 8, 2021.
2020-08-03
Xinhua Insurance director resigns[13]新华保险董事熊莲花辞任finance.sina.com.cn
Reported: 2020-08-03
Xinhua Insurance said it received director Xiong Lianhua’s resignation letter on August 3. She resigned as a non-executive director and from two board committees for work-related reasons.
2020-06-24
Xinhua Insurance appoints Li Quan as party committee secretary[14]新华保险任命李全为党委书记finance.sina.com.cn
Reported: 2020-06-28
Xinhua Insurance announced the appointment of Li Quan as secretary of its new party committee.
2020-05-28
New China Life wins Best Classic Brand Award[15]新华保险获“最佳经典品牌奖”finance.sina.com.cn
Reported: 2020-06-11
New China Life received the Best Classic Brand Award at the second China Brand Building Forum after expert review and online voting.
2020-05
Xinhua Insurance launches critical illness advance-claim service[16]新华保险推出“重疾慰问先赔”服务finance.sina.com.cn
Reported: 2020-05-26
Xinhua Insurance announced and launched its “critical illness consolation advance-claim” service for eligible customers diagnosed with cancer, offering an initial visit and claims guidance. By May 24, it had provided the service to 48 customers and paid RMB 5.67 million in claims.
2020-03-25
Xinhua Insurance reports 2019 results[17]新华保险公布2019年经营业绩tech.sina.com.cn
Reported: 2020-03-25
Xinhua Insurance published its 2019 operating results on March 25, reporting annual premium income of 1,381.31 billion yuan and net profit attributable to shareholders of 14.559 billion yuan.
Unconfirmed
New China Life and DingTalk establish comprehensive cooperation[18]新华保险与钉钉达成全面合作tech.sina.com.cn
Reported: 2020-02-28
New China Life and DingTalk reached a comprehensive cooperation agreement. New China Life used DingTalk for online work, collaboration and video meetings.

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Overview

History

Products and positioning

Controversies

Recent events

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