Recently, at CM Bank's 2025 interim results presentation, Vice President Wang Ying mentioned plans to systematically enhance wealth management capabilities from five aspects.

One of these aspects includes accelerating the transformation of protection-type insurance products, distinguishing between protection and investment functions based on genuine customer needs, focusing on scenarios such as health, accidents, education, retirement, and inheritance, and promoting insurance's return to its fundamental risk protection role.

Going forward, Wang Ying will play a more important role in CM Bank's insurance business system.

China Merchants Cigna Life Insurance, jointly established by CM Bank and Cigna Health & Life Insurance, is about to change its leadership. The successor is Wang Ying.

At China Merchants Cigna Life's third extraordinary shareholders' meeting in 2025, a resolution was passed for Wang Ying to replace Wang Xiaoqing as Chairman of China Merchants Cigna and member of relevant specialized committees of the board of directors.

Previously, on August 4, Wang Xiaoqing resigned from his position as Vice President of CM Bank and has now been transferred to China Merchants Holdings as Party Secretary, with plans to serve as General Manager. Wang Xiaoqing previously concurrently held chairman positions at CM Bank's insurance, insurance asset management, and fund subsidiaries, and has gradually stepped down from these roles following his departure.

Wang Ying has taken over the China Merchants Cigna Life platform. As of the first half of 2025, China Merchants Cigna Life has total assets of 234.816 billion yuan, currently operating 20 provincial branches, 4 non-provincial branches, 5 central sub-branches, and 1 sub-branch, representing a considerable scale.

According to available information, Wang Ying is currently 53 years old and is CM Bank's only female Vice President. She joined CM Bank in 1997 and has been with the bank for over 28 years, during which she served as Assistant General Manager and Deputy General Manager of CM Bank's Beijing Branch, General Manager of Tianjin Branch, and General Manager of Shenzhen Branch.

In February 2023, Wang Ying officially became Assistant President of the bank, and seven months later, she was appointed Vice President, a position she has held for two years now. According to disclosures, Wang Ying's compensation at CM Bank was 2.415 million yuan in 2023 and 2.751 million yuan in 2024.

For Wang Ying, leading China Merchants Cigna Life presents significant challenges.

China Merchants Cigna Life experienced a decline in premiums in the first half of the year. During this period, it achieved insurance business revenue of 25.65 billion yuan, down 3.87% year-on-year. However, net profit continued to grow, reaching 286 million yuan during the period, up 32.41% year-on-year.

Some products at China Merchants Cigna Life have high surrender rates. According to disclosures, the top three products by surrender rate in the second quarter were China Merchants Cigna Additional Five-Year Major Natural Disaster Accidental Injury Insurance, China Merchants Cigna Additional Five-Year Huizhong Hospital Fixed-Payment Medical Insurance, and China Merchants Cigna Five-Year Huikang Hospital Fixed-Payment Medical Insurance, with surrender rates of 113.37%, 65.93%, and 56.37% respectively.

In the second quarter of 2025, the top three products by surrender amount were China Merchants Cigna Zhaoying No. 2 (2018) Annuity Insurance (Participating), China Merchants Cigna Million Protection Endowment Insurance, and China Merchants Cigna Zhaoying No. 2 Annuity Insurance (Participating), with annual cumulative surrender amounts of 220 million yuan, 70.5429 million yuan, and 45.8604 million yuan respectively.

According to solvency reports, China Merchants Cigna Life's net cash flow in the second quarter was -300 million yuan, with operating activity net cash flow of 7.2 billion yuan, investment activity net cash flow of -3.1 billion yuan, and financing activity net cash flow of -4.4 billion yuan.

Beyond cash flow challenges, there are also compliance management challenges. In September, due to violations of relevant regulations, the Guangdong regulatory authority decided to issue a warning and impose a fine of 350,000 yuan on China Merchants Cigna Life's Guangdong branch.