China Life Insurance, the largest insurer on the Chinese mainland, said Tuesday it plans to apply for the issuing of no more than 1.5 billion A-shares in the Shanghai Stock Exchange, China Daily reported. The sale would make China Life the nation's first insurer to be publicly traded at home. China Life Insurance Chairman Yang Chao said that though the company has abundant cash flow, the board of directors have insisted on issuing A shares, in consideration of the long-term development of the company and the interests of over 100 million of retail clients on the Chinese mainland, said the paper.