Li Zhuyong, a “veteran” of People’s Insurance Company, was transferred to China Life Group and served as deputy secretary of the Party Committee

(Photo source: Visual China)

Blue Whale News, February 14 (Reporter Shi Yu)Today, China Life Insurance (Group) Company (hereinafter referred to as China Life Insurance Group) announced that entrusted by the leaders of the Organization Department of the Central Committee, responsible comrades of relevant cadre bureaus of the Organization Department of the Central Committee attended the cadre meeting of China Life Insurance (Group) Company and announced the central government’s decision: Comrade Li Zhuyong was appointed Deputy Secretary of the Party Committee of China Life Insurance (Group) Company.

Li Zhuyong, born in October 1972, has rich experience in the financial industry. In 1998, Li Zhuyong entered the PICC system of China. He served as the person in charge of the Legal and Compliance Department and the Risk Management Department. He served as the Legal Director from August 2013 to July 2018. In August 2018, he was appointed Vice President of PICC Group. In April 2020, he was appointed Secretary of the Board of Directors, and in August 2020, he was appointed Executive Director. During his tenure, he also served concurrently as chairman of China Chengxin, director of PICC China Hong Kong, supervisor of PICC Property Insurance, supervisor of Zhongsheng International, and chairman of PICC Financial Services.

In the past six months, China Life Group has continued to promote personnel adjustments. In August 2024, the official announced that Cai Xiliang was appointed as Party Secretary of China Life Group and Bai Tao was removed from the post of Party Secretary. On November 20, Cai Xiliang’s qualifications were approved. Cai Xiliang, born in 1966, served as Vice Chairman and President of China Life Group; Chairman of China Life Asset Management; Chairman of China Life Property Insurance; Deputy Secretary of the Party Committee, Vice Chairman and General Manager of China Export Credit Insurance Corporation; Member of the Party Committee and Deputy General Manager of China CITIC Group.

With Cai Xiliang becoming chairman, the position of president of China Life Group also became vacant. This time, Li Zhuyong became deputy secretary of the group’s party committee. According to usual practice, after completing the process and obtaining regulatory approval, he may become the president of China Life Group and partner with Cai Xiliang.

Li Zhuyong’s joining coincides with the year of deepening reform of China Life Group. At the beginning of this year, China Life Group proposed the 333 strategy to further comprehensively deepen reforms and promote high-quality development, clarifying its development positioning, goals and tasks and key measures for the next five years.

From the perspective of further development paths, China Life Group stated that it must actively cultivate three new growth poles, focus on the three major areas of pension, health, and financial management, and forge new advantages for the future; strive to build three new listing platforms, focusing on strengthening and optimizing the core The main business carries out capital operations and strives to improve the group’s resource aggregation and allocation capabilities; deeply implement the three major projects, using party building to lead the strong foundation project, using China Life’s financial culture construction project, and upgrading the project through collaborative innovation.

In 2024, the consolidated operating income of China Life Group will exceed 1.1 trillion yuan, the consolidated premium income will exceed 820 billion yuan, the consolidated total assets will be nearly 7.5 trillion yuan, and the scale of third-party assets under management will exceed 3 trillion yuan.