FINANCE

China Confirms Probe Into President of Its Biggest Property Insurer

Published: Dec. 10, 2025 6:35 p.m. GMT+8

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Yu Ze

China’s top anti-graft watchdog has launched an investigation into Yu Ze, president of the country’s largest property insurer, confirming a Caixin report from days earlier.

The Central Commission for Discipline Inspection (CCDI) said Saturday that Yu of PICC Property and Casualty Co. Ltd. is suspected of “serious violations of discipline and law.”

Caixin previously learned that he attended a company meeting on Nov. 28, and news of his being taken away spread internally the following day.

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Yu Ze, president of PICC Property and Casualty, is under CCDI investigation for suspected “serious violations,” making him the third PICC president probed in recent years.
PICC holds a 37.5% domestic market share in property insurance and saw premium income rise from 440 billion yuan (2021) to 540 billion yuan (2023) under Yu.
Insiders criticized Yu's management style and lack of investment experience; the CCDI hasn't disclosed probe details.

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Who’s Who

PICC Property and Casualty Co. Ltd.: PICC Property and Casualty Co. Ltd. (中国人民财产保险股份有限公司) is China's largest property insurer, holding a 37.5% market share in premium income last year. It contributes nearly half of the industry's net profit. Its president, Yu Ze, is under investigation by China's top anti-graft watchdog for "serious violations of discipline and law." This marks the third investigation of a PICC president in recent years.

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What Happened When

2021：: PICC Property and Casualty Co. Ltd.'s premium income was 440 billion yuan.

2024：: PICC Property and Casualty Co. Ltd. held a 37.5% share of premium income in the domestic property insurance market and reported a premium income rise to 540 billion yuan.

Nov. 28, 2025：: Yu Ze attended a company meeting at PICC Property and Casualty Co. Ltd.

Nov. 29, 2025：: Internal reports spread that Yu Ze was taken away, following news of his investigation.

Dec. 7, 2025：: The Central Commission for Discipline Inspection (CCDI) officially announced an investigation into Yu Ze for suspected serious violations of discipline and law.

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