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People's Insurance Co. (Group) of China: Li Zhuyong Has Resigned as Executive Director
PICC GROUP (01339.HK): Li Zhuyong resigns from the positions of Executive Director and Vice President.
On March 4, Gelonghui announced that PICC GROUP (01339.HK) received the resignation letter from executive director Li Zhuyong. Li Zhuyong resigned from his positions as executive director, vice president, chairman of the Board of Directors' Risk Management and Consumer Rights Protection Committee, member of the Board of Directors' Related Party Transaction Control Committee, compliance officer, and chief risk officer due to job changes. The resignation will be effective from March 3, 2025.
Express News | People's Insurance Company Group of China - Li Zhuyong Has Resigned From His Positions as an Executive Director, Vice President
The People's Insurance (601319.SH): Executive Director and Vice President Li Zhuyong resigns.
On March 4, Gronhui reported that The People's Insurance (601319.SH) announced that the company's Board of Directors received Mr. Li Zhuyong's resignation letter. Due to a job relocation, Mr. Li Zhuyong resigned from his positions as executive director, vice president, chairman of the Board of Directors' Risk Management and Consumer Rights Protection Committee, member of the Board of Directors' Related Party Transaction Control Committee, compliance officer, and chief risk officer. This resignation takes effect from March 3, 2025. Mr. Li Zhuyong has confirmed that he has no disagreements with the company's Board of Directors or management, and there are no other matters to inform the company's Shareholders.
Major measures for financial opening! Lowering the access threshold for Financial Institutions from Hong Kong and Macao to the mainland. How will capital from Hong Kong and Macao ignite the mainland Insurance market?
① On one hand, it will help accelerate overseas Financial Institutions' investment in China's Insurance market, partially alleviating the current capital tightness in the Insurance Industry; ② On the other hand, it will also be beneficial in introducing products and experiences from mature Insurance markets; ③ Some experts believe that if a capital investment of billions of dollars comes in, it could leverage a large-scale premium.
Hong Kong stocks are fluctuating | The Mainland Insurance Companies expanded their gains at the close as regulators continue to guide insurance companies to reduce liability costs. The rise in long-term interest rates helps alleviate allocation pressure.
The Mainland Insurance Companies' gains expanded at the close, as of the time of writing, New China Life Insurance (01336) rose by 6.89%, priced at 28.7 Hong Kong dollars; China Pacific Insurance (02601) rose by 6.39%, priced at 25.8 Hong Kong dollars; The People's Insurance (01339) rose by 5.12%, priced at 4.11 Hong Kong dollars; Ping An Insurance (02318) rose by 4.73%, priced at 48.7 Hong Kong dollars.
