China Life Insurance Co (HK:2628) has released an update.
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China Life Insurance Co. is set to renew its policy management agreement with its controlling shareholder CLIC, ensuring continued provision of policy administration services for non-transferred policies. The new agreement, effective from January 2025 to December 2027, includes various services like insurance administration and customer services, with CLIC paying an annual service fee based on policy numbers and premiums. This strategic move aims to leverage CLIC’s extensive customer base and enhance China Life’s revenue streams.
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