China Pacific Insurance President to Also Chair Life Insurance Unit

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CPIC President Zhao Yonggang will fill the chairperson position at China Pacific Life Insurance vacated by Pan Yanhong. Photo: VCG

The president of China Pacific Insurance (Group) Co. Ltd. will serve concurrently as the chairperson of the group’s life insurance subsidiary, Caixin has learned from sources with knowledge of the matter.

Zhao Yonggang will fill the chairperson position vacated by Pan Yanhong, who is retiring after working at the state-owned insurance giant for over three decades. Meanwhile, Li Jinsong, the subsidiary’s general manager, will succeed Pan as head of its Communist Party committee, the sources say.

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Zhao Yonggang, president of China Pacific Insurance, will also become chairperson of its life insurance subsidiary, replacing the retiring Pan Yanhong.
Li Jinsong will succeed Pan Yanhong as head of the subsidiary’s Communist Party committee.
Zhao joined the group in 1995 and has extensive experience, including a recent position as a board member of Haitong Securities.

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Who’s Who

China Pacific Insurance (Group) Co. Ltd.: China Pacific Insurance (Group) Co. Ltd. is a state-owned insurance giant based in China. Zhao Yonggang, who joined the group in 1995, is the group's president and concurrently serves as the chairperson of its life insurance subsidiary. The group is also listed in Hong Kong. Li Jinsong, the general manager of the life insurance subsidiary, has taken over as head of its Communist Party committee.

China Pacific Life Insurance Co. Ltd.: China Pacific Life Insurance Co. Ltd. is a life insurance subsidiary of China Pacific Insurance (Group) Co. Ltd. Zhao Yonggang will serve as its new chairperson, succeeding the retiring Pan Yanhong. Li Jinsong, appointed as general manager last month, will lead its Communist Party committee. Both executives have extensive experience within the group.

Haitong Securities Co. Ltd.: Haitong Securities Co. Ltd. is a major Chinese securities company. Zhao Yonggang, the current president of China Pacific Insurance, previously served as a board member at Haitong Securities. He left Haitong last year to become the president of the insurance group.

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