Xinhua Insurance, a leading agency in the insurance industry, recently made key personnel adjustments.
On the afternoon of August 22, Xinhua Insurance disclosed that its board of directors received a letter of resignation from Chairman Li Quan on the same day. Due to his age, Li Quan resigned from all positions, including chairman and executive director of Xinhua Insurance.
A few days ago, the relevant person in charge of China Investment Corporation announced at Xinhua Insurance a few days ago that Yang Yucheng will be the party committee secretary of Xinhua Insurance; after completing the necessary procedures of the board of directors and supervision, Yang Yucheng will also take over as the chairman of Xinhua Insurance.
Li Quan, who has just resigned, is nearing retirement age in 2023, so there is a trend where the chairman of Xinhua Insurance is doing his best.
According to public information, Yang Yucheng has extensive experience in financial institutions and management.
He has served as a full-time supervisor of the Board of Supervisors of Key State-owned Enterprises under the State Council; Director of the China Network Communications General Department and Vice Chairman of the Company's Trade Union; Director of the Office and Assistant to the CEO of China Investment Guarantee Co., Ltd.; Member of the Party Committee, Secretary of the Party Committee, and Deputy Secretary of the Party Committee of Hongyuan Securities; Director, General Manager, and Executive Committee Director of Shenwan Hongyuan Securities; and Director of the 2nd Board of Directors of China Securities Inter-agency Quotation System Co., Ltd.
Meanwhile, Li Quan, who has been working within the Xinhua Insurance Group system since 2010, has been the president of Xinhua Asset Management Company since March 2010. From December 2016 to September 2019, he also served as Vice Chairman of Xinhua Asset Management Company. In 2019, Li Quan was the executive director of Xinhua Insurance and the CEO of Xinhua Insurance. In April 2023, Li Quan became the chairman and CEO of Xinhua Insurance.