China Life Insurance Company Ltd has released its corporate social responsibility report, making it one of the first insurance providers in China to do so.
Yang Chao, president of China Life Insurance, has told local media that the company's social responsibilities cover nine main areas: the State, the society, the government, the insurance industry, the investors, the clients, the employees, the environment and community.
As the first state-owned insurance enterprise publisher of the report, China Life Insurance says it will adopt a strategy of systematic planning, professional implementation, and scientific management. It will include CSR strategy into their overall development strategy and gradually build up a self-evaluation and management based enterprise citizenship framework.
Yang says that in order to become an active and successful CSR professional, the company will insist on serving both the city and the rural areas; seeking economic benefits while promoting equality; serving both the shareholders and clients and employees; serving both the insurance market and the capital market; and building a harmonious team and credit culture.
By the end of 2005, China Life Insurance had set up 12,664 rural marketing sites with 322,000 marketers and formed a preliminary marketing network that covers all the main towns and villages. In June this year, the company also donated RMB50 million and set up a charity fund to help solve China's rural residents' medical guaranty.
By the end of 2006, China Life Insurance had provided insurance for more than 600 million clients.
