PICC P&C announced that its board meeting on 29 April 2026 elected Zhang Daoming as a member of the Strategic Planning/Sustainable Development Committee and appointed him President of the company.

Zhang’s committee tenure begins immediately and will conclude with the end of the current sixth board session. His assumption of presidential duties is conditional upon obtaining qualification approval from the National Financial Regulatory Administration.

Aged 50, Zhang holds an MBA and is a senior economist. He currently serves as Temporary Responsible Officer, Executive Director and Responsible Financial Officer of PICC P&C, as well as non-executive director of PICC Life Insurance and non-executive director and chairperson of PICC Financial Services. His earlier roles within PICC P&C include senior management positions in market research, compliance, risk management and provincial branches in Zhejiang, Jiangxi and Guangdong. He has also been appointed Vice President of The People’s Insurance Company (Group) of China Limited, subject to NFRA approval.

Zhang does not receive remuneration or director’s fees from PICC P&C at present, holds no company shares and has no connections with other directors, senior management, or substantial shareholders.

Following this change, PICC P&C’s board comprises Chairperson Ding Xiangqun (non-executive), executive directors Zhang Daoming and Hu Wei, employee director Li Ling, and five independent directors: Cheng Fengchao, Wei Chenyang, Li Weibin, Qu Xiaobo and Xue Shuang.