China Life Insurance Company Limited announced the final total compensation situation for Directors, Supervisors, and Senior Management for the year 2023. The announcement shows that the pre-tax salary of Executive Director and President Li Mingguang totaled 0.801 million yuan, which includes a basic annual salary of 0.2207 million yuan, a performance annual salary of 0.4413 million yuan, and welfare income of 0.139 million yuan.Among other executives, Vice President Bai Kai had the highest pre-tax compensation, reaching 2.4914 million yuan; the pre-tax salary of Supervisory Board Chairman Cao Weiqing was 2.431 million yuan. The compensation for independent directors was 0.42 million yuan, which includes a basic annual salary of 0.3 million yuan and a performance annual salary of 0.12 million yuan. It is noteworthy that the salary...Show More

China Life Insurance Company Limited announced the final total compensation situation for Directors, Supervisors, and Senior Management for the year 2023. The announcement shows that the pre-tax salary of Executive Director and President Li Mingguang totaled 0.801 million yuan, which includes a basic annual salary of 0.2207 million yuan, a performance annual salary of 0.4413 million yuan, and welfare income of 0.139 million yuan.Among other executives, Vice President Bai Kai had the highest pre-tax compensation, reaching 2.4914 million yuan; the pre-tax salary of Supervisory Board Chairman Cao Weiqing was 2.431 million yuan. The compensation for independent directors was 0.42 million yuan, which includes a basic annual salary of 0.3 million yuan and a performance annual salary of 0.12 million yuan. It is noteworthy that the salary of Chairman and Executive Director Bai Tao, as well as Non-Executive Directors Wang Junhui and Zhuo Meijuan, was zero.The announcement also disclosed the compensation situation of Directors, Supervisors, and Senior Management who left their positions in 2023. Among them, former Vice President Yang Hong had the highest pre-tax salary, totaling 2.7001 million yuan. The company stated that there were no performance salary clawbacks for Directors, Supervisors, and Senior Management in 2023, and the 2023 compensation for Directors and Supervisors still requires approval from the company’s shareholder meeting.