While a brief has yet to be released, it is thought that Ogilvy & Mather, Grey, JWT, and Saatchi & Saatchi Beijing are all in the fray for the account, which reached a total advertising spend of RMB 200 million (US$26 million) last year.
The pitch marks one of China’s biggest creative reviews so far this year, with many other major advertisers unwilling to disrupt agency rosters with the Beijing Olympics looming.
China Life Insurance is the largest state-owned corporate insurance company in the country, and has become the world's number two insurer behind American International Group.
Although China's life insurance business is growing by 30 per cent each year and is dominated by China Life, Ping An Insurance and Pacific Life, many leading foreign insurers are forming alliances with smaller Chinese companies and establishing subsidiaries to gain a toehold in the market, since it was opened up for foreign life insurers in January 2005.
China Life Insurance calls creative pitch
BEIJING - State-owned giant China Life Insurance has put its corporate creative business up for review, with a slew of MNC agencies believed to be in contention.