"Change the General"! , Ping An Life
Ping An Life Insurance recently announced that Yu Hong has resigned from his post as executive director and general manager of Ping An Life Insurance after his term of office expired. Yang Zheng, Party Secretary and Chairman of Ping An Life Insurance, will serve as the interim head of the company and perform the duties of general manager. The above job changes will take effect after the relevant regulatory procedures are completed.
Ping An Life Insurance said that the company has a mature and stable management mechanism, a systematic operating platform and a healthy and strong talent team, and personnel changes will not affect the company's normal operations. In combination with the needs of strategic advancement and business management, the company continues to improve the talent training team system, recruits young, experienced and broad-minded compound cadres to enrich the management team, continuously strengthens the company's leadership team building, further deepens life insurance reform, and steadily moves towards high-quality development.
Ping An Life Insurance also stated that the company is currently advancing the appointment of a new general manager in an orderly manner, and will subsequently fulfill its information disclosure obligations in a timely manner in accordance with relevant laws, regulations and regulatory requirements.
Yu Hong joined Ping An in 1997 and has served as director of the Fee Planning Office of the Premium Department of Ping An Life Headquarters, director of the Chairman's Office and deputy general manager of Ping An Life, deputy general manager and general manager of Ping An Life Chongqing Branch, assistant general manager, deputy general manager and general manager of Ping An Life Corporation.
Ping An Life Insurance said that Yu Hong is an excellent local cadre trained by the company. During her tenure, Yu Hong was deeply involved in the strategic planning upgrade of Ping An Life Insurance. In the past five years, she assisted in promoting the implementation of the "4 channels 3 products" reform strategy, and the reform results have gradually emerged. The company expressed its sincere gratitude to Ms. Yu Hong for her contributions during her tenure.
Yang Zheng, who is to serve as the interim person in charge, is the Party Secretary and Chairman of Ping An Life Insurance. Yang Zheng has served as Chairman of Ping An Health Insurance, General Manager of Ping An Property & Casualty Insurance, Deputy General Manager of Ping An Bank's Eastern Division, Assistant General Manager of Ping An Property & Casualty Insurance and General Manager of the Northern Division, and General Manager of Ping An Property & Casualty Insurance Shanghai Branch.
In December 2020, Yang Zheng was transferred from Ping An Health Insurance to Ping An Life Insurance to serve as the company's party secretary. In May 2022, the former China Banking and Insurance Regulatory Commission issued an approval to approve Yang Zheng's qualifications as chairman of Ping An Life Insurance.
At that time, Ping An Life Insurance stated that Yang Zheng's appointment as chairman will strengthen Ping An Life Insurance's team building and further promote a series of major reforms in life insurance and the long-term sustainable development of various businesses; at the same time, he will also improve the company's organizational management structure, optimize decision-making arrangements, implement main responsibilities, and continue to provide strong momentum for life insurance reforms.
It is worth noting that at the end of August this year, according to information on Ping An Life’s official website, Cai Ting, born in 1985, has been appointed as the deputy general manager of Ping An Life, in charge of the channel center, product center, and financial enterprise center.
Cai Ting joined Ping An in November 2014. He has served as Project Manager in the Office of the Chief Innovation Officer of Ping An Group, Research Assistant/Senior Project Manager of the Strategic Development Center of Ping An Group, Deputy General Manager of the Employee Services Department of the Human Resources Center of Ping An Group, General Manager of the Human Resources Department of Ping An Bank, Deputy Chief Financial Officer of Ping An Group, Special Assistant to the Chairman of Ping An Life Insurance, and Assistant to the General Manager of Ping An Life Insurance.
Before joining Ping An, Cai Ting worked as a consulting manager at Accenture Ltd. In terms of the ranking of Ping An Life's management team, Cai Ting ranks after Yang Zheng, the party secretary and chairman, and Yu Hong, the general manager. He is also an executive director. Previously, there were also speculations that Cai Ting might "take over" from Yu Hong.
Ping An Life currently has five deputy general managers, namely Cai Ting, who is in charge of the channel center, product center, and financial enterprise center; Hu Jingping, who is in charge of the institutional supervision department of the individual insurance business department; Deng Minghui, who is in charge of the finance department and the risk management department; Wang Guoping, who is in charge of the community financial services department and the independent broker business department; and Shi Weiyu, who is in charge of the operations center, technology research and development department, legal compliance department, and audit and supervision department.
Among them, the age issue deserves attention. Among the executive directors of Ping An Life, Yang Zheng is a "post-60s". He was born in February 1964 and turned 60 this year.
Ping An Life's senior management team also includes four people born in the 1960s, including Hu Jingping, Deng Minghui, Wang Guoping, and Ping An Life's compliance officer and general manager of the Legal and Compliance Department at the headquarters, Guo Jiming. In particular, Wang Guoping, who was born in November 1963, has reached retirement age.
With the addition of Cai Ting, Ping An Life's senior management team now has two "post-80s" members. In the future, Ping An Life may continue to add "fresh blood".
Since the launch of life insurance reform at the end of 2019, Ping An Life has adhered to the "4 channels and 3 products" reform strategy, continuously promoted the construction of four major channels: agents, bank insurance, community finance and sinking channels, and improved business quality; steadily deepened the three core services of "insurance medical health", "insurance home care", and "insurance high-quality health care community", and continuously deepened the layout in the field of health and elderly care to meet the diverse needs of customers and enable high-quality business development.
Ping An of China's 2024 semi-annual report shows that in the first half of the year, the new business value of life insurance and health insurance business reached 22.32 billion yuan, a year-on-year increase of 11.0%; the new business value of the agent channel increased by 10.8%, and the per capita new business value increased by 36.0% year-on-year, and production capacity continued to increase; the 13-month policy continuation rate increased by 2.8 percentage points year-on-year, and business quality steadily improved.