China Life Announces Proposed Change of Auditor for the Form 20-F

BEIJING, Oct. 27, 2016 /PRNewswire/ -- The board of directors (the "Board") of China Life Insurance Company Limited (the "Company")  (NYSE: LFC; HKSE: 2628; SSE: 601628) announced today that the Board has approved the proposed appointment of Ernst & Young Hua Ming LLP as the auditor for the Company's Form 20-F for the year of 2016 to be filed with the US Securities and Exchange Commission.

Ernst & Young Hua Ming LLP will replace Ernst & Young, which submitted a resignation letter to the Company stating that it proposed to resign as the auditor for the Company's Form 20-F due to its requirements for project management. The resignation will take effect from the conclusion of the forthcoming first extraordinary general meeting 2016 of the Company. The appointment of Ernst & Young Hua Ming LLP has been approved by the Audit Committee of the Company. Ernst & Young will continue to be the auditor for the Company's reports filed in Hong Kong.

Ernst & Young has confirmed in writing that there is no matter relating to its resignation as the auditor for the Company's Form 20-F that needs to be brought to the attention of the shareholders of the Company. The Board has confirmed that there are no disagreements between the Company and Ernst & Young, and the Board is not aware of any other matters in relation to the change of the auditor for the Company's Form 20-F that need to be brought to the attention of the shareholders of the Company. The independent directors of the Company expressed their independent opinion in favor of the change of the auditor for the Company's Form 20-F.

The proposed change of the auditor for the Company's Form 20-F is still subject to the approval of the shareholders of the Company at the forthcoming first extraordinary general meeting 2016.

SOURCE China Life Insurance Company Limited