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China Life Singapore Aims to Expand Agency Channel to 100 Agents with Enhanced New Business Model

China Life Insurance (Singapore) Pte Ltd (“China Life Singapore”) successfully held the first Agency Channel annual award ceremony on 27 January 2022. In strict compliance with COVID-19 safe management measures, the award ceremony brought together the elites of the Agency Channel, colleagues of the Agency Department, and all members of the Senior Management Team including Mr. Lin Xiangyang, the Chief Executive of China Life Singapore. The celebration reviewed the first anniversary of the establishment of the Agency Channel, affirmed the excellent achievements in 2021, and specially rewarded outstanding individuals and teams with awards such as "New Business Award" “Elite Team Award” for both individual and team. We believe China Life Singapore Agency Channel will continue to hit the mountains and brave the wind and waves in 2022.

The Agency Channel, as the company's most attractive sales platform with great potential, plays an important role in meeting customers’ needs, enhancing business value and accumulating core competitiveness. Furthermore, it is a key part of China Life Singapore's journey to start a new era of transformation and explore new business models. 2021 is a milestone for China Life Singapore that marks a year of significant growth and development. As the first South East Asia agency channel under China Life Insurance Group Company (“Group Company”), they shoulder the historical task of opening up a brand new journey. In the face of the persistent severe epidemic in 2021, the agency channel insists on making progress while maintaining stability. With a strong resilience and a progressive attitude, they significantly implement the "Six High Missions" proposed by Mr. Lin – “to form a high-efficient management team; to provide high-value product range; to cultivate a high-quality sales team; to create a high-tech service system; to serve high-net-worth clients; and to achieve high-quality development goals”.

At the ceremony, Mr. Lin further encouraged all the agency channel members to be professional, motivated and diligent, and put forward expectations for team development in 2022 with both internal and external development. Mr. Lin pointed out that in 2022, China Life Singapore will accelerate the improvement of new products with the upgrade of system, and provide strong back-end support for the agency team through diversified sales platforms. According to the deployment of China Life Singapore's medium and long-term plan for agent recruitment, the company plans to achieve high growth in the number of individual agents in 2022 and aim at the target of 100 agents. We believe the new agency team would further enhance company’s service system in Singapore market, and demonstrate advanced business model with more abundant service content.

Looking forward to 2022, under the difficult recovery of the world economy, opportunities and challenges coexist. With strong support and guidance from the company, the Agency Channel will continue to seize new opportunities for strategic development, take China Life's strong strength as the basis, take advantage of the Group Company’s platform to cultivate top agents in the industry, and provide customers with the most comprehensive insurance protection plan to suit their needs.