TSEC:2823

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China Life Insurance

Executive Summary

China Life Insurance Co., Ltd. provides various insurance products and services primarily in Taiwan. More Details


Snowflake Analysis

Excellent balance sheet and good value.


Similar Companies

Share Price & News

How has China Life Insurance's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 2823 has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

1.0%

2823

-1.0%

TW Insurance

-2.6%

TW Market


1 Year Return

-19.1%

2823

-8.5%

TW Insurance

10.3%

TW Market

Return vs Industry: 2823 underperformed the TW Insurance industry which returned -8.7% over the past year.

Return vs Market: 2823 underperformed the TW Market which returned 11.6% over the past year.


Shareholder returns

2823IndustryMarket
7 Day1.0%-1.0%-2.6%
30 Day2.3%-1.2%0.3%
90 Day-0.005%-3.1%-0.9%
1 Year-16.9%-19.1%-4.2%-8.5%14.3%10.3%
3 Year-21.7%-25.7%-8.2%-18.7%29.9%15.5%
5 Year-0.7%-10.0%0.9%-18.1%74.0%43.4%

Price Volatility Vs. Market

How volatile is China Life Insurance's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is China Life Insurance undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: 2823 (NT$19.15) is trading below our estimate of fair value (NT$43.89)

Significantly Below Fair Value: 2823 is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: 2823 is good value based on its PE Ratio (6.4x) compared to the TW Insurance industry average (7.6x).

PE vs Market: 2823 is good value based on its PE Ratio (6.4x) compared to the TW market (18.4x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate 2823's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: 2823's PB Ratio (0.6x) is in line with the TW Insurance industry average.


Next Steps

Future Growth

How is China Life Insurance forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

13.1%

Forecasted Insurance industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as China Life Insurance has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has China Life Insurance performed over the past 5 years?

10.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 2823 has high quality earnings.

Growing Profit Margin: 2823's current net profit margins (4.1%) are higher than last year (3.3%).


Past Earnings Growth Analysis

Earnings Trend: 2823's earnings have grown by 10% per year over the past 5 years.

Accelerating Growth: 2823's earnings growth over the past year (24.3%) exceeds its 5-year average (10% per year).

Earnings vs Industry: 2823 earnings growth over the past year (24.3%) underperformed the Insurance industry 27.9%.


Return on Equity

High ROE: 2823's Return on Equity (10.1%) is considered low.


Next Steps

Financial Health

How is China Life Insurance's financial position?


Financial Position Analysis

Short Term Liabilities: 2823's short term assets (NT$866.2B) exceed its short term liabilities (NT$41.5B).

Long Term Liabilities: 2823's short term assets (NT$866.2B) do not cover its long term liabilities (NT$1,887.2B).


Debt to Equity History and Analysis

Debt Level: 2823 is debt free.

Reducing Debt: 2823 had no debt 5 years ago.

Debt Coverage: 2823 has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: 2823 has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


Next Steps

Dividend

What is China Life Insurance current dividend yield, its reliability and sustainability?

2.96%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: 2823's dividend (2.96%) is higher than the bottom 25% of dividend payers in the TW market (2.26%).

High Dividend: 2823's dividend (2.96%) is low compared to the top 25% of dividend payers in the TW market (5.5%).


Stability and Growth of Payments

Stable Dividend: 2823's dividend payments have been volatile in the past 10 years.

Growing Dividend: 2823's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (18.9%), 2823's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

3.8yrs

Average management tenure


CEO

Stephanie Hwang

2.58yrs

Tenure

Ms. Stephanie Hwang has been the President of China Life Insurance Company Limited since February 13, 2018 and serves as its Director and served as its Deputy President. Ms. Hwang served as its Senior Exec ...


Leadership Team

NamePositionTenureCompensationOwnership
Stephanie Hwang
President & Director2.58yrsno datano data
Can Sheng Li
Head of the Finance Departmentno datano datano data
Mandy Chao
IR Officer4.25yrsno datano data
Tsai Jina
Deputy GM of Accounting & Senior VP3.75yrsno datano data
Kelly Lin
Senior VP & Chief Compliance Officerno datano datano data
T. M. Hsu
Executive VP2.83yrsno datano data
Johnny Shin Chan Chang
Executive Vice President11.58yrsno datano data
Sung Tsai
Senior Executive Vice President1.58yrsno data0.00054%
NT$ 489.3k
Lin Judith
Chief Auditor & Senior VP10yrsno datano data
Jin Su
Deputy General Managerno datano data0.046%
NT$ 41.4m
Anne Su
Executive Vice President4.25yrsno datano data
Lu Angel
Executive Vice President2.17yrsno datano data

3.8yrs

Average Tenure

Experienced Management: 2823's management team is considered experienced (3.2 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Stephanie Hwang
President & Director2.58yrsno datano data
T. M. Hsu
Executive VP2.83yrsno datano data
Yu-Ling Kuo
Chairperson of the Board0.58yrno datano data
F. H. Huang
Independent Director1.42yrsno datano data
Cheng-Hsien Tsai
Independent Director0.42yrno datano data
Da-Bai Shen
Independent Director0.42yrno datano data
Shih Hui-Chi
Director2.83yrsno datano data
Shan-Jung Yu
Director0.42yrno datano data
Ming-Jung Lai
Independent Director0.42yrno datano data

0.6yrs

Average Tenure

Experienced Board: 2823's board of directors are not considered experienced ( 0.6 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

China Life Insurance Co., Ltd.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: China Life Insurance Co., Ltd.
  • Ticker: 2823
  • Exchange: TSEC
  • Founded: 1963
  • Industry: Life and Health Insurance
  • Sector: Insurance
  • Market Cap: NT$90.606b
  • Shares outstanding: 4.73b
  • Website: https://www.chinalife.com.tw

Number of Employees


Location

  • China Life Insurance Co., Ltd.
  • No. 122, Dunhua North Road
  • 5th Floor
  • Taipei
  • 105
  • Taiwan

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
2823TSEC (Taiwan Stock Exchange)YesCommon StockTWTWDFeb 1995

Biography

China Life Insurance Co., Ltd. provides various insurance products and services primarily in Taiwan. It offers individual life and injury, individual health, group, annuity, and investment-linked insurance ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/31 15:53
End of Day Share Price2020/10/30 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.