China 2015: BRAND PROFILE | 42. New China Life
Business improved significantly, around a customer centric approach to meeting customer current demands and anticipating their future needs. The company ended the first half of 2014 with 176,000 life insurance agents, a year-on-year increase of 11,000.
Expensive promotion drove e-insurance sales increases. The sale of health insurance products during the first half of 2014 increased 113 percent year-on-year, suggesting the high priority middle class Chinese place on providing for their health needs.
Net income leaped 72 percent to $608 million in the first half of 2014, on a 30 percent revenue rise to $13.0 billion. For the full year 2013, net income rose 55 percent to $719 million on $20.8 billion in revenue, up 18 percent. Founded in 1996, New China Life Insurance Company, Ltd. was listed on the Shanghai and Hong Kong Stock Exchanges in 2011.