Li Zhuyong "parachuted" into China Life and is expected to become the group's president in the future
Previously served as Vice President of People’s Insurance
The leadership team of China Life Group has gained another "strong general."
On February 14th, the official website of China Life Group announced that on the morning of that day, relevant officials from the Central Organization Department attended a cadre meeting of China Life Group and announced the appointment of Li Zhuyong as Deputy Secretary of the Party Committee.
According to convention, after the relevant approval process, Li Zhuyong is expected to serve as the President of China Life Group.
Since November 2024, after the former President Cai Xiliang's qualifications were approved and he officially stepped down as President, the position of President of China Life Group has been vacant for nearly three months.
Previously, some media pointed out that the Central Organization Department recently conducted cadre inspections at China Pacific Insurance, which may involve changes in the management team.
Before being "parachuted" into China Life Group, Li Zhuyong had long served at China Pacific Insurance, with rich experience in the insurance field.
After entering the PICC system in 1998, Li Zhuyong held positions such as the head of the Legal and Compliance Department, Risk Management Department/Legal Compliance Department, and General Manager of the Legal Compliance Department.
In 2018, he was appointed Vice President of China Pacific Insurance, and before transferring to the China Life system, he also served as the compliance head and Chief Risk Officer of PICC.
During his tenure, Li Zhuyong emphasized in a signed article published in the internal publication of China Pacific Insurance that "insurance companies are professional risk managers and must strengthen their own risk management."
Li Zhuyong's transfer involves two major "giants," China Life and PICC, which may further promote business innovation between the two.
Previously, China Life Insurance had forecasted a performance increase for 2024, with the year-on-year growth rate of net profit attributable to the parent company expected to be in the range of 122-144% under the new standards; during the same period, the consolidated operating revenue of China Life Group is expected to exceed 1.1 trillion yuan, and the scale of managed third-party assets is expected to exceed 3 trillion yuan