SHANGHAI - China Pacific Insurance (Group) Co., Ltd. (CPIC) has announced the approval of Mr. ZHAO Yonggang's appointment as chairman of its subsidiary, China Pacific Life Insurance (NS:LIFI) Co., Ltd. (CPIC Life), by the National Financial Regulatory Administration (NFRA). The confirmation, which came in the form of an official document from the NFRA, validates Mr. ZHAO's position following his election during CPIC Life's recent board meetings.
Mr. ZHAO was elected as a director of CPIC Life at the company's third extraordinary general meeting of 2024 and subsequently as chairman of the board during the fifth extraordinary meeting of the session. His term as chairman became effective on December 24, 2024.
The NFRA's endorsement is a key regulatory step in the governance of China's insurance industry, ensuring that high-level appointments such as Mr. ZHAO's meet the necessary qualifications and standards for leadership roles within financial institutions.
This leadership change comes as CPIC, a leading insurance conglomerate in China, continues to navigate the complex financial landscape of the country. The company, headquartered in Shanghai, operates under the laws of the People's Republic of China with limited liability.
The information regarding Mr. ZHAO Yonggang's appointment is based on a press release statement and is provided by RNS, the news service of the London Stock Exchange (LON:LSEG). CPIC has not disclosed additional details about Mr. ZHAO's strategic plans or objectives in his new role at CPIC Life. The appointment is part of the regular corporate governance and leadership renewal process within the group's subsidiaries.
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