After 30 years of accumulation, Taikang Life's strategic evolution goes far beyond product iteration. We have broken through the boundaries of traditional life insurance to build a new model integrating payments, services, and investments. By deeply merging insurance protection with real-world elderly care services, we address critical pain points in pension finance for an aging population, reshape the industry landscape, and provide solid security for the happy later years of hundreds of millions of families.
By Wang Mei Yi, China Insurance Insider
In the first half of 2026, China Taikang Life Insurance Co., Ltd. (hereinafter referred to as "Taikang Life") delivered a strong performance through steady operations and strategic depth, achieving insurance revenue of 1445.05 billion yuan, a year-over-year increase of 10.33%, and net profit of 158.21 billion yuan. Taikang Life maintained its top position among domestic non-listed life insurers in terms of net profit, further solidifying its industry-leading profitability advantage.
Behind these impressive results lies Taikang Life's strategic momentum built over three decades. The company has moved beyond the single track of traditional life insurance product iteration, transcending the two-dimensional boundaries of conventional operations to establish a new three-dimensional business model integrating "payment + service + investment."
Leveraging this innovative model, the company deeply integrates insurance protection with physical wellness services. By driving service implementation through industrial investment, building customer value via high-quality offerings, and securing the business foundation with comprehensive coverage, we establish a differentiated profit loop. This approach effectively addresses pension finance challenges in the longevity era, sets a new standard for high-quality industry development, and provides solid security for the happy later years of hundreds of millions of families.
Embrace New Life Insurance
On 2026/3/26, the 2026 Taikang 30th HWP Spring Global Recruitment Launch, themed "30th Year of Pursuing Our Heart's Desire: A New Journey of Happiness for HWP," was held in Shanghai. Under the "New Life Insurance" strategy, this event unveiled the dual value proposition of HWP (Health & Wealth Planner)—both professional and social.
As a pioneer in the longevity economy, Taikang Life Insurance has leveraged its forward-looking strategy to establish an innovative life insurance model integrating payments, services, and investments, creating a highly competitive moat in the industry.
For years, China's traditional life insurance sector has operated under a two-dimensional business model: the liability side accumulates funds through premium income, while the asset side drives value appreciation via market-based investments. This dual-engine approach forms the core profit model for insurers.
While this classic model has supported the domestic life insurance industry's decades of scaled expansion, its drawbacks are becoming increasingly apparent.
Overemphasis on capital deployment over service execution, and on scale growth over customer value. Insurance products have become mere risk-hedging instruments and wealth vehicles, failing to deeply integrate into customers' daily lives. The industry's service value and social impact remain under-realized.
Addressing the core pain points of traditional models, in 2026, China Taikang Life Insurance comprehensively upgraded its "New Life Insurance" strategy, radically expanding beyond the conventional two-dimensional structure to innovatively build a three-dimensional business model centered on the synergy of "payment + service + investment."
In 3, Michael Chen Dongsheng, Chairman of Taikang Insurance Group, issued a landmark statement clarifying that the core transformation in new life insurance is to elevate insurance from a single "financial compensation" tool to a "comprehensive solution" covering the entire customer lifecycle, achieving a full dimensional upgrade of insurance value.
Compared to traditional models, the new life insurance 3D ecosystem achieves breakthroughs across three core dimensions.
First, we elevate the value of our payment solutions by extending their scope and integrating them earlier in the user journey. This shift moves us from reactive compensation to a comprehensive coverage model that prevents issues before they occur, protects users during transactions, and provides a safety net afterward.
Taikang Life's professional, high-performing workforce continues to grow. By the end of 2025, the number of Health & Wealth Planners (HWP) exceeded {10,000}. As of the end of 2025, our "Happy Promise" series has helped over 25 million clients prepare financially for retirement and health. During our 30th anniversary celebration, we launched confirmation letter programs for premium and celebratory versions of our senior living communities, upgraded access rules for retirement benefits, and established a seamless channel to convert insurance capital into tangible senior care resources.
The pilot program for long-term care insurance at the group level is also progressing smoothly. As of the end of 6 in 2026, Taikang has cumulatively participated in 45 long-term care insurance pilot projects, covering over 1 billion person-times. More than 299.3 million person-times have received benefits, with total claim amounts exceeding 20.1 billion yuan, directly addressing the critical social issue where "one disabled family member upends the entire household."
In the first half of 2026, China Taikang Life Insurance paid out more than 48 billion RMB in claims, processed 68 thousand claim cases, and served an average of 1668 customers per day. Health insurance claims accounted for over 80% of total payouts. Malignant tumors, cardiovascular and cerebrovascular diseases, and chronic illnesses were the primary causes of claims, underscoring the essential demand for health and elderly care protection among the public.
Next is the ecosystem deployment on the server side. Leveraging Taikang Group's years of deep expertise in core resources across medical care, rehabilitation, and long-term security, we tightly integrate insurance products with physical services to build a four-in-one service system: "insurance coverage + medical services + elderly care + health management."
Unlike most industry players that prioritize sales over service, New Life Insurance treats service as its core competitive advantage. It has established a nationwide service network covering senior living communities, partner medical institutions, and home-based health and wellness systems. The company delivers tangible, ongoing services—including routine health monitoring, expedited medical access, rehabilitation nursing, and elderly care—transforming insurance into a practical, accessible public welfare service.
Finally, precise empowerment on the investment side. In the new life insurance model, the purpose of investment extends beyond financial returns to include targeted deployment in key areas such as medical and elderly care, healthy living, and livelihood security. Industry investments will be leveraged to strengthen service systems and fill critical gaps.
To support the policy pilot on expanding long-term investment by insurance funds, Taikang Wenxing (Wuhan) Private Equity Management Co., Ltd. was established in 2025 and launched operations steadily. At the same time, we leverage stable investment returns to enhance payment-side protection capabilities and upgrade service quality, creating a closed-loop ecosystem where "investment empowers services, services attract customers, customers generate capital, and capital supports investment."
With the implementation of the 3D collaborative ecosystem, Taikang Life Insurance has moved beyond traditional single-product life insurance to integrate financial protection with essential living services. This marks a fundamental shift from "selling policies" to "delivering services," precisely meeting the needs for health, retirement, and risk coverage in an era of longevity.
Product supply and demand in sync
With the comprehensive upgrade of New Life Insurance Strategy, Taikang Life is advancing its product system iteration. This brings our 3D ecosystem concept to life through products and service scenarios better aligned with customer needs, achieving precise matching between supply and demand.
The company has restructured its product portfolio to address customers' full lifecycle needs in health, elderly care, and risk protection. Moving beyond the traditional siloed model of standalone critical illness, life insurance, and wealth management products, it now offers an integrated, customized "coverage + services" solution.
For young and middle-aged adults, we focus on critical illness risks, medical costs, and family responsibilities. We optimize our critical illness and medical insurance products, bundling exclusive value-added services such as priority medical access, health checkups, and chronic disease management to address key pain points like difficulty accessing care and lack of health management.
Designed for older adults, we deeply integrate resources from Taikang's senior living communities, home-based care and health management, and rehabilitation nursing services. We offer exclusive retirement products such as pension annuities and whole life insurance, enabling policyholders to redeem their policies for premium care services and ensuring comprehensive coverage throughout the entire aging journey—solving the critical challenges of elderly care in an aging society.
At the same time, Taikang Life Insurance is moving away from industry-standard mass production of products. Instead, it now offers finely segmented product tiers tailored to customers' age, occupation, family situation, and income level.
For high-net-worth clients, we offer an exclusive product line featuring premium medical and elderly care, long-term protection, and personalized customization, along with dedicated services such as elite healthcare, premium senior living, and private health consulting. For the general public, we provide inclusive insurance products designed to lower entry barriers and expand coverage, harmonizing protection with accessibility to uphold our commitment to serving the people through finance.
By deeply integrating products with physical services, we transform the traditional insurance model's weakness of "overemphasis on terms, underemphasis on experience." Every policy now comes with corresponding service benefits, making coverage concrete and scenario-specific.
Additionally, Taikang Life continues to drive the iteration and upgrade of its HWP channel. In 2026 3, the company hosted a Spring Global Recruitment Launch Event themed "30th: Follow Your Heart, A New Chapter of HWP Happiness," further strengthening its core capabilities in serving high-net-worth clients.
Core Management Iteration
Taikang Life Insurance has completed a smooth transition of its core management. In 2025 12, the company announced that, effective 2025 12 23, Mr. Xue Jihao was appointed as interim head to act on behalf of the general manager; at the same time, Mr. Cheng Kangping officially stepped down from his role as general manager of Taikang Life Insurance.
In 3 this year, Xue Jihao published a signed article in his capacity as Party Secretary of Taikang Life Insurance, officially revealing his latest position. As of press time, he continues to serve as the company's temporary head, acting as General Manager.
Public records indicate that Xue Jihao was born in 1968 12, holds a master's degree, serves as the company's Chief Operating Officer, and is a member of the Group Management Committee.
Before joining Taikang Life, Xue Jihao served as Head of the Secretarial Office at the headquarters of Huaxia Bank. Since joining Taikong, his career has spanned both head office and branch operations as well as core business lines. He has held key roles including Deputy General Manager of the Business Management Department, General Manager of Sichuan Branch, General Manager of the Customer Service Department, General Manager of the Premium Department, General Manager of Fujian Branch, Deputy General Manager of the Individual Insurance Division, Deputy General Manager of the Bancassurance Division, General Manager of Jiangsu Branch, General Manager of Taikang Life Jiangsu Branch, General Manager of the Bancassurance Division, Assistant President and General Manager of the Bancassurance Division, Vice President and General Manager of the Bancassurance Division, Executive Vice President and Chief Operating Officer and General Manager of the Bancassurance Division.
Xue Jihao's appointment signals that China Life Insurance is gradually shifting its operational focus from the Cheng Kangping era to the Xue Jihao era.
The leadership transition at the company's 30-year milestone is profoundly significant. The new management team will build on Taikang's three decades of foundation, uphold our pioneering advantage in medical and elderly care, stay attuned to evolving industry trends and customer needs, and drive strategy execution with greater flexibility and creativity.
Deepening the implementation of our new life insurance strategy, precise product innovation, leadership succession, and the convergence of multiple growth drivers have further solidified Taikang Life's ecosystem moat and clarified its development path.
