Not a state-owned enterprise, but a joint-stock enterprise. Xinhua Life Insurance [full name "new china life insurance co Limited", established in September 1996 and headquartered in Beijing, is a large life insurance company. The main shareholders of the company are central huijin Investment Co., Ltd., Baosteel Group Co., Ltd. and Swiss Reinsurance Group. Xinhua Asset Management Co., Ltd. is owned by Xinhua Life Insurance. ..
Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.