China Life Insurance Company Limited Announced Resignation of Mr. Zhao Lijun as the Person in Charge of Finance

BEIJING,July 9,2019 --China Life Insurance Company Limited (the "Company" or "China Life") (NYSE: LFC; SSE: 601628; HKSE: 2628) announced today that Mr. Zhao Lijun tendered his resignation as the person in charge of finance(equivalent to Chief Financial Officer)of the Company on July 8,2019due tothe adjustment of management division,which took effect on the same day.TheCompany would like to express itsgratitude to Mr.Zhao Lijun for hiscontribution to the Company during histenure ofservice as the person in charge of finance of the Company.

China Life also announced that the Board has nominated Mr. Zhao Peng as the person in charge of finance of the Company at the twelfth meeting of the sixth session of the Board. The Company has recently received the approval issued by the Beijing Bureau of the China Banking and Insurance Regulatory Commission (the "CBIRC Beijing Bureau"),pursuant to which,the qualification of Mr. Zhao Peng as the person in charge of finance of the Company has been approved by the CBIRC Beijing Bureau with effect from July 1,2019.

Mr. Zhao Peng,born in April 1972,became the Vice President of the Company in March 2018. He served as an Assistant to the President of the Company from October 2017 to March 2018,and the General Manager of Zhejiang Branch of the Company from January 2015 to October 2017. From 2014 to 2015,he successively served as the Deputy General Manager (at the general manager level of the provincial branches) and the person-in-charge of Zhejiang Branch of the Company. From 2003 to 2014,he successively held various positions in China Life Insurance (Group) Company,including the Division Chief of the Capital Management Division of the Finance Department,an Assistant to the General Manager and the Division Chief of the Capital Management Division of the Finance Department,an Assistant to the General Manager,the Deputy General Manager and the General Manager of the Finance and Accounting Department,and the General Manager of the Finance Department. From 1995 to 2003,Mr. Zhao successively served as a staff member of the Capital Division,a staff member of the Financial Management Division,the Deputy Division Chief and the Division Chief of the Capital Division of the Planning and Finance Department of China Life Insurance Company. Mr. Zhao graduated from Hunan College of Finance and Economics in July 1995,majoring in actuarial science with a bachelor's degree in economics,from Central University of Finance and Economics in June 2002,majoring in finance with a master's degree in economics,and from Tsinghua University in January 2007,majoring in business administration with a master's degree in business administration.

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