China Life Announces Resignation of Mr. Lin Dairen and Appointment of Mr. Su Hengxuan

BEIJING,Dec. 20,2018 -- China Life Insurance Company Limited (the "Company" or "China Life") (NYSE: LFC; SSE: 601628; HKSE: 2628) announced today that Mr. Lin Dairen tendered his resignation as an Executive Director and the President of the Company and a member of the Strategy and Assets and Liabilities Management Committee on 19 December 2018due tothe reason of age,which took effect on the same day.The board of directors (the "Board") of the Company would like to express itsgratitude to Mr.Lin Dairen for hiscontribution to the Company during histenure ofservice.

Meanwhile,China Life announced that at the ninth meeting of the sixth session of the Board held on 20 December 2018,Mr. Su Hengxuan was appointed as the President of the Company and was re-designated as an Executive Director of the Company. The qualification of Mr. Su Hengxuan as the President of the Company is still subject to the approval of the China Banking and Insurance Regulatory Commission.

Mr. Su Hengxuan,born in February 1963,served as a Non-executive Director of the Company from 11 July 2018 to 19 December 2018. He is currently the Vice President of China Life Insurance (Group) Company. He was a Director of China Life Property and Casualty Insurance Company Limited,a Director of China Life Asset Management Company Limited,the President and an Executive Director of China Life Pension Company Limited,and a Director of Insurance Professional College. Mr. Su Hengxuan served various positions in the Company from 2000 to 2015,including the Deputy General Manager of the Henan Branch,the General Manager of the Individual Insurance Department of the Company,the General Manager of the Individual Insurance Sales Department of the Company,an Assistant to the President and the Vice President of the Company. He served as an Executive Director of the Company from July 2014 to May 2015. Mr. Su Hengxuan graduated from Wuhan University in 1998,majoring in insurance with a bachelor's degree,and from the University of Science and Technology of China in 2011,majoring in management science and engineering with a doctoral degree. Mr. Su Hengxuan,a senior economist,has over 35 years of experience in the operation and management of life insurance business. He is a member of the Political Consultative Conference of Xicheng District,Beijing,a member of the Chinese Expert Committee of the Financial Planning Standards Board,and the Executive Director of the Council of the China Center for Insurance and Social Security Research (CCISSR) of Peking University.

For further information,please contact:

Grace Hou

Tel: (86-10) 6363-1241

Fax: (86-10) 6657-5112

Email: houjue@e-chinalife.com

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