Nan Fang Du Shi Bao·2025-06-04 09:32Core Viewpoint - The appointment of Shi Weiyu as the new General Manager of Ping An Life Insurance marks a significant leadership change within the company, following the tenure of Yu Hong, and reflects a trend towards younger executives in the management team [2][6]. Leadership Changes - Shi Weiyu, born in the 1970s, is the second female leader of the trillion-yuan insurance giant, having a long history with the company since joining in 1999 [5]. - The leadership team has seen multiple adjustments over the past year and a half, with a noticeable trend towards younger executives, including the appointment of 85-born Cai Ting as Vice Chairman [6]. Financial Performance - In Q1, Ping An Life reported premium income of 173.8 billion yuan, a slight increase of 0.3% year-on-year, while net profit decreased by 14.47% to 20.5 billion yuan [7]. - The new business value showed strong performance, reaching 12.891 billion yuan, a year-on-year increase of 34.9%, with a new business value rate of 32.0%, up by 10.4 percentage points [7]. Strategic Initiatives - The growth in new business value is attributed to the company's ongoing "4 channels + 3 products" strategy, with significant increases in new business value from various channels, including a 170.8% increase from the bank insurance channel [7]. Solvency Position - As of the end of Q1 2025, Ping An Life's core solvency adequacy ratio was 163.69%, and the comprehensive solvency adequacy ratio was 227.92%, reflecting a substantial increase from the previous quarter [7].