There have been changes in the top management of China Life.

On the afternoon of the 22nd, the official website of China Life announced that, appointed by the leadership of the Central Organization Department, the main responsible comrades of the relevant cadres bureau of the Central Organization Department attended the meeting of leading cadres of China Life Insurance (Group) Company and announced the central decision: Cai Xiliang will be appointed as China Life Insurance (Group) Company. Deputy Secretary of the Party Committee, Yuan Changqing no longer serves as Deputy Secretary of the Party Committee of China Life Insurance (Group) Company.

As usual, Cai Xiliang will replace Yuan Changqing as the president of the group.

Born in the "CITIC Department", he used to be the deputy dean of the School of Finance

　　The resume shows that Cai Xiliang was born in August 1966. He has a university degree, a master's degree in economics, and graduated from Shanghai University of Finance and Economics majoring in finance.

　　Source: Official website of China Export & Credit Insurance Corporation

　　In the early years, Cai Xiliang taught at the university and served as the deputy dean of the School of Finance of Shanghai University of Finance and Economics.

After that, he chose to "go to the sea" and joined the "CITIC Department", and successively served as the general manager of Shanghai Jinzhong Development Co., Ltd., the general manager and party secretary of CITIC East China (Group) Co., Ltd., and the general manager and party secretary of CITIC Daxie Development Co., Ltd.

He also briefly engaged in politics, serving as the director of the Ningbo Daxie Development Zone Management Committee and secretary of the Party Working Committee, but soon returned to the "CITIC Department" as the chairman, general manager and party secretary of CITIC Industrial Investment Group Co., Ltd.

　　In December 2010, Cai Xiliang served as a director of CITIC Group, and in 2016, he served as deputy general manager of CITIC Group.

After being promoted to CITIC Group, Cai Xiliang also served as deputy general manager of CITIC Corporation of China and CITIC Corporation of China.

　　In April 2020, Cai Xiliang ushered in a change in his career.

On April 10 of that year, PICC and SINOS announced successively that Wang Tingke, deputy secretary, vice chairman and general manager of the Party Committee of SINOSURE, was transferred to the deputy secretary of the PICC Party Committee; Cai Xiliang, deputy general manager of CITIC Group, was transferred to the deputy secretary of the Party Committee of SINOSURE.

In September, he was officially approved to serve as the vice chairman and general manager of SINOSURE.

　　According to public information, China Export & Credit Insurance Corporation is a state-owned policy insurance company with independent legal person status funded and established by the state to support China’s foreign economic and trade development and cooperation. .

　　It is understood that this time Cai Xiliang was transferred to China Life, or to replace Yuan Changqing, who is about to retire.

According to public information, Yuan Changqing was born in September 1961. He graduated from the University of Hong Kong with a master's degree in business administration and is a senior economist.

He once served as Chairman of the Supervisory Committee and Deputy Secretary of the Party Committee of Agricultural Bank of China, Executive Director, Deputy General Manager, Secretary of the Disciplinary Committee and Member of the Party Committee of China Everbright Group.

From May 2017 to April 2022, he served as Deputy Secretary of the Party Committee of China Life Insurance (Group) Company.

Since May 2017, he has served as Deputy Secretary of the Party Committee, Vice Chairman and President of China Life Insurance (Group) Company.

China Life Enters the Era of "Bai Cai Pei"

　　Since 2021, the insurance industry has also entered the "deep water area" of transformation.

As a leading institution in the industry, China Life's transformation has also attracted much attention in the industry.

　　In January this year, China Life just experienced a personnel "earthquake".

On January 8, according to the website of the Central Commission for Discipline Inspection and the State Supervision Commission, Wang Bin, Secretary of the Party Committee and Chairman of China Life Insurance (Group) Company, was suspected of serious violations of discipline and law, and is currently undergoing disciplinary review and supervision investigation by the Central Commission for Discipline Inspection and the State Supervision Commission.

　　On the afternoon of January 14, China Life Insurance (Group) Company held a cadre meeting.

Relevant responsible comrades of the Organization Department of the Central Committee attended the meeting to announce the decision of the Central Committee: Comrade Bai Tao will be appointed Secretary of the Party Committee of China Life Insurance (Group) Company.

On March 24, the official website of China Life Group issued an announcement saying that after the central research, Bai Tao was appointed as the Secretary of the Party Committee and Chairman of China Life Group.

The China Banking and Insurance Regulatory Commission has approved Bai Tao's qualifications to serve as the chairman of China Life Group.

　　After Cai Xiliang officially replaces Yuan Changqing, he will also work with Bai Tao, and China Life will usher in the era of "Bai Cai Pei".

　　According to the official website of China Life Group, there are 9 members of the leadership team of China Life Group, namely Bai Tao, Secretary of the Party Committee and Chairman; Yuan Changqing, Vice Chairman and President; Guo Xinshuang, Deputy Secretary of the Party Committee and Chairman of the Board of Supervisors; Wu Shaohua, Vice President of the Party Committee and Sheng Hetai ; Assigned to the head of the discipline inspection and supervision team and the company's party committee member Li Peilu; party committee members, vice presidents Su Hengxuan, Wang Kai; party committee member, vice president, chief risk officer Yang Liping.

　　At the China Life Group's 2022 work conference, Bai Tao said that it is necessary to strengthen the research and judgment of the situation, recognize the times and trends, analyze the crises and opportunities, and do a solid job of the company.

In 2022, China Life will adhere to the principle of stability, seek progress while maintaining stability, insist on returning to the origin, focus on the main business, and unswervingly promote high-quality development.

　　According to the 2021 financial report disclosed by China Life, as of the end of the reporting period, China Life's total assets reached 4.89 trillion yuan, an increase of 15.0% from the end of 2020.

In 2021, China Life will achieve double growth in revenue and net profit. The annual operating income will be 858.505 billion yuan, a year-on-year increase of 4.06%; the net profit attributable to the parent will be 50.921 billion yuan, a year-on-year increase of 1.32%.

　　In terms of insurance business, in 2021, China Life will achieve a total premium income of 618.327 billion yuan, a year-on-year increase of 1.0%; renewal premiums will be 442.463 billion yuan, a year-on-year increase of 5.8%.

Affected by factors such as the epidemic and the slowdown in the release of insurance demand, new single premiums were 175.864 billion yuan, a year-on-year decrease of 9.3%.

The first-year regular premium was 98.410 billion yuan, a year-on-year decrease of 14.7%.

(Sino-Singapore Jingwei Wei Wei))

(The opinions in this article are for reference only and do not constitute investment advice. Investment is risky, and you need to be cautious when entering the market.)

All rights reserved by Sino-Singapore Jingwei. Without written authorization, no unit or individual may reprint, extract or use it in other ways.