Sou Hu Cai Jing·2025-09-19 04:41Core Viewpoint - The appointment of Wang Ying as the new chairman of China Merchants Life Insurance (招商信诺) is seen as a pivotal moment for the company, which has been facing challenges in its business performance. The transition aims to revitalize the company's growth trajectory and address its declining insurance revenue [1][5]. Group 1: Leadership Change - Wang Ying has been appointed to replace Wang Xiaoqing as the chairman of China Merchants Life Insurance, pending regulatory approval [1]. - Wang Xiaoqing has transitioned to a role at China Merchants Jinling, having served as chairman since September 2021 and also held multiple leadership positions within China Merchants Bank [1][4]. - Wang Ying is the only female vice president at China Merchants Bank and has extensive experience, having worked in various leadership roles within the bank for 28 years [2][4]. Group 2: Business Performance - In the first quarter of this year, China Merchants Life Insurance reported insurance business revenue of 15.543 billion yuan, a year-on-year decline of 15% [5]. - For the first half of the year, the total insurance business revenue was 25.65 billion yuan, down 3.87%, making it the only bank-affiliated insurance company among the top ten in China to experience a revenue decline [5]. - Despite the revenue drop, the net profit for the first half of 2025 was 286 million yuan, reflecting a year-on-year increase of 32.41% [5]. Group 3: Strategic Direction - Wang Ying aims to address the company's challenges by enhancing wealth management capabilities and focusing on transforming insurance products to meet customer needs [6]. - The company plans to emphasize risk protection in its insurance offerings, targeting areas such as health, accidents, education, retirement, and inheritance [6]. - The retail assets under management (AUM) for China Merchants Bank have surpassed 16 trillion yuan, indicating strong growth in retail customer segments despite broader market challenges [6].