Three and a half years of the chairman of Sanyi, Xinhua Insurance ushered in the era of "Li Zhang Bi"

Zhongxin Jingwei, September 26 (Wei Wei) On the 26th, Xinhua Life Insurance Co., Ltd. (hereinafter referred to as Xinhua Insurance) issued an announcement saying that the board of directors of the bank received a resignation letter from Chairman Xu Zhibin on September 26, 2022, Xu Zhibin resigned as chairman of Xinhua Insurance, non -executive director, and chairman of the strategic committee of the board of directors for work reasons.

While the chairman resigned, the candidates for the new chairman of Xinhua Insurance have also been announced. The secretary of the Xinhua Insurance Party Committee, CEO, and President Li Quan Election became the new chairman, and Zhang Hongjing, deputy secretary and vice president of the party committee, became the new president. After the new leadership team is in place, can Xinhua Insurance usher in a new turn?

Changed three and a half years to change the three chairman

According to the announcement issued by Xinhua Insurance on September 26, Li Quan was the chairman of the company's seventh board of directors; he appointed Zhang Hong as the company's president; The qualifications of the two need to be approved by the CBRC.

Zhongxin Jingwei noticed that Li Quan was also the third chairman of the company's third chairman of the company after Van Feng stepped down as chairman of Xinhua Insurance in January 2019.

After Wan Feng resigned, Liu Haoling took over as the chairman of Xinhua Insurance. In September 2019, his qualifications were officially approved by the Banking Regulatory Commission. However, in January 2021, Liu Haoling resigned as the chairman due to work.

Since then, Xu Zhibin has been the chairman of Xinhua Insurance. On January 25, 2021, Xu Zhibin, the 16th session of Xinhua Insurance's seventh board of directors, was the chairman of the seventh board of directors; on November 10 of the same year, the China Banking Regulatory Commission approved Xu Zhibin's qualifications. From the timeline, Xu Zhibin has worked in Xinhua Insurance for less than two years.

Xinhua Insurance commented in the announcement that during his tenure, Xu Zhibin diligently and died and fulfilled his duties. Xinhua Insurance's board of directors thanked Xu Zhibin's contribution. For the reasons for Xu Zhibin's resignation, the announcement only stated that "due to work reasons", and the next goal was temporarily disclosed.

In addition, the background of Liu Haoling and Xu Zhibin also has similarities, both of which are from Central Huijin. Public information shows that the Central Huijin Investment Co., Ltd. (hereinafter referred to as Central Huijin) entered Xinhua Insurance at the end of 2009. As of the end of the first half of 2022, its shareholding ratio was 31.34%. Central Huijin is a wholly -owned subsidiary of China Investment Co., Ltd. In the middle of 2022, the Working Conference pointed out that it will fully support the reform and development of direct management enterprises and improve the management system and mechanism of direct management enterprises.

Xinhua Insurance ushered in the era of "Li Zhang Bai"

Li Quan has joined Xinhua Insurance for more than 12 years. From the past resume, Li Quan has rich asset management experience. From July 1988 to December 1990, Li Quan served as the business manager of the banking department of China's rural trust and investment company. From January 1991 to April 1998, he served as the general manager and assistant general manager of the funding department of Zhengda International Finance Co., Ltd. From May 1998 to March 2010, he served as the inspector, deputy general manager, executive deputy general manager, and deputy secretary of the party committee.

In March 2010, Li Quan joined Xinhua Insurance as president of Xinhua Asset Management Co., Ltd. (hereinafter referred to as Xinhua asset management). He has also served as the company's vice chairman since December 2016.

In November 2019, Li Quan began to be an executive director of Xinhua Insurance. Since August 2019, he has served as the CEO and President of Xinhua Insurance. long.

After Li Quan served as the chairman, Zhang Hong was "taken" by Zhang Hong. Zhang Hong is also an insurance veteran. From his past resume, he was the executive director, president, and chairman of the supervisor, chairman of China Life Reinsurance, the general manager of China Property Reinsurance, and chairman of China. Since September 2019, he has served as Deputy Secretary of the Xinhua Insurance Party Committee (official level), and in June 2021, he has served as an executive director and vice president of Xinhua Insurance (official level).

Zhongxin Jingwei noticed that resumes show that Li Quan and Zhang Hong are 59 years and 58 years old, and both are close to the retirement age. According to the official website of Xinhua Insurance, in addition to the above two, Xinhua Insurance currently includes 7 members, namely Vice President, Chief Financial Officer Yang Zheng, Vice President, General Actuary, and Secretary of the Board of Direct Just, the assistant to the president Yue Ran, Yuan Chaojun, and Wang Lianwen.

In the first half of the year, net profit "cut"

Public information shows that Xinhua Insurance was established in September 1996. It is a national large -scale life insurance company and has gone through 26 years. In 2011, Xinhua Insurance was listed simultaneously in the Shanghai Stock Exchange and the Stock Exchange.

In the past two years, the life insurance industry has faced in -depth adjustments, and the value of new business and the number of agents is generally under pressure. In the first half of 2022, the five major A -share listed insurance companies achieved a total net profit of 122027 billion yuan, a year -on -year decrease of more than 15%. Specifically, the net profit of Ping An and the Chinese people's guarantee of returning to the mother has increased year -on -year, and the other three have declined, especially the net profit of Xinhua Insurance has decreased the largest year -on -year.

Data show that as of the end of June 2022, Xinhua Insurance's operating income was 124.795 billion yuan, a year -on -year decrease of 5.5%. The net profit attributable to shareholders of the parent company was 5.187 billion yuan, a decrease of 50.8%year -on -year. In this regard, Xinhua Insurance explained that it was mainly affected by the total profit of the same period last year and the influence of the downturn of the capital market this year. Huatai Securities Research reports that the adjustment of the capital market turmoil and the structure of the insurance industry stress on the performance of Xinhua Insurance in the first half of 2022. In the first half of 2021, Xinhua Insurance's total investment yield (annualized) was as high as 6.5%, which pushed the profit base. When investment yields fell to 4.2%in the first half of 2022, the profit declined significantly.

At present, the life insurance industry is still in the stage of clearing, and the human scale of the five major insurance companies is still declining. As of the end of June 2022, the scale of Xinhua Insurance Insurance Agent's scale was 318,000, a year -on -year decrease of 27.9%; the average per month was 61,000, a year -on -year decrease of 41.9%; Fall to 17.5%; a monthly average per capita comprehensive production capacity of 3840 yuan, an increase of 23.7%year -on -year.

In July of this year, Li Yuan, vice president of Xinhua Insurance, resigned and transferred to the president of Tianan Life. Since then, the president assistant Wang Lianwen took over the danger channel.

Wang Liaowen said at the performance conference of Xinhua Insurance in the first half of 2022 that whether the company's services, team services, or from the perspective of company development, from the perspective of customer perspective, must rely on the elite agent team, or high -quality high quality The team is supported and provided. Xinhua Insurance Construction Elite Agency team will take three steps three steps in "raising capacity, excellent structure, steady growth". (For more reports, please contact Wei Wei, the author of this article: [email protected]) (Zhongxin Jingwei APP)

(The views in the article are for reference only, do not constitute investment suggestions, have risks in investment, and need to be cautious to enter the market.)

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