Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

CX Live is Caixin Global's real-time news portal, featuring 24-hour breaking news, short-form analysis, and roundups from business and social media in China.

TRENDING
Chinese Companies Usher in Age of Synthetic Meat
AI Startup Plans IPO at Value of at Least $1 Billion — in China
Huawei’s First 5G Commercial Phone Gets Warm Response Despite Limited Networks
LATEST
Cathay Pacific CEO Hogg Resigns Amid Hong Kong Protests
Ninebot’s New Scooter Can Drive Itself Back to Charging Stations
Oppo to Unveil New Smartphone With 20x Zoom
Chinese Companies Usher in Age of Synthetic Meat
Record-Smashing Chinese Animation to Get Overseas Releases
WTO to Arbitrate China’s Complaints About U.S. Solar-Cell Tariffs
Vipshop Stock Soars After Q2 Results Beat Expectations
Japan Replaces China as Largest Holder of U.S. Government Debt
Huawei’s First 5G Commercial Phone Gets Warm Response Despite Limited Networks
AI Startup Plans IPO at Value of at Least $1 Billion — in China
Alibaba Q2 Revenue Jumps 42%, Beating Estimates But Slower Than Year Earlier
Baidu’s $66 Billion Dive Knocks It Out of China’s Internet Top 5
Beijing Grants Foreign Investors Wider Access to Entertainment Industry
Tencent-Backed Maoyan Turns Profit on Strong Ad Growth
Chinese App-Makers Smell Opportunities in Strict Trash-Sorting Rules
Casino Giant Galaxy Entertainment’s H1 Profit Drops 7% as High-Rollers Stay Away
Chinese Internet Sector Grows 17.9% Year-on-Year: MIIT
Xiaomi Receives Licenses for Second 5G Phone
Coal Industry Looks to Robots for Increased Safety
No Investor Love for Tencent, Lenovo and Luckin in Latest Reports
Star Online Insurer ZhongAn Shuffles Leadership

By Wu Yujian and Han Wei / Jul 19, 2019 05:58 AM / Business & Tech

Chen Jin. Photo: VCG

Chen Jin. Photo: VCG

China's first internet-only insurer, ZhongAn Online P&C Insurance Co. Ltd., said Thursday its general manager and joint CEO Chen Jin resigned.

Chen stepped down from the posts because of “personal work arrangement,” the Hong Kong-listed company said. He will remain as ZhongAn’s executive director, chairman of the company’s Investment Strategy Committee and president of the Fintech Research Institute, ZhongAn said.

ZhongAn’s board named Deputy General Manager and joint CEO Jiang Xing to assume Chen’s duties, the company said. The appointment is subject to approval by the top banking and insurance regulator.

Jiang, 42, joined ZhongAn in 2014. He previously held senior positions in e-commerce giant Alibaba Group and its affiliate Ant Financial Services Group.

Backed by Alibaba and its rival Tencent Holdings, ZhongAn is China’s largest online insurer. It debuted on the Hong Kong stock exchange in 2017, raising $1.5 billion in the city’s largest-ever fintech company listing.

But the company has reported widening losses, reaching 1.8 billion yuan ($262 million) last year from a deficit of 996 million yuan the previous year. Analysts attributed to the losses to the company’s increasing investment in technology research and development.

Related: Controversial Answer to China’s Health Insurance Needs


Share this article
Open WeChat and scan the QR code
Copyright © 2019 Caixin Global Limited. All Rights Reserved.