The board of The People’s Insurance Company (Group) of China Limited (PICC Group) has approved the nomination and election of Mr Tan Jiong as executive director and chairman for the fifth Board session, effective upon shareholder approval and confirmation of his qualification by the National Financial Regulatory Administration. His tenure will run through the remainder of the current Board term, with eligibility for re-election thereafter.

Consistent with PICC Group’s Articles of Association, the Board also confirmed that Mr Tan will chair the Strategy and Investment/Sustainable Development Committee once regulatory approval is secured.

Mr Tan, aged 60, is a senior economist and member of the 14th National Committee of the Chinese People’s Political Consultative Conference. His prior positions include executive director and vice president of Industrial and Commercial Bank of China, vice governor of Guizhou Province, head of the United Front Work Department of the Guizhou Provincial Committee of the CPC, and most recently vice chairman and president of China Development Bank. He holds a PhD in Economics from Wuhan University.

Under the approved arrangement, Mr Tan will not receive a separate director’s fee; remuneration will be limited to salary, performance bonus, and benefits tied to his management position within PICC Group. He currently holds no interests in the company’s securities and has no reported relationships with other directors, senior management, or major shareholders.

As at 11 August 2026, the Board comprises two other executive directors (Zhao Peng and Xiao Jianyou), four non-executive directors, and five independent non-executive directors. No disciplinary actions or additional matters requiring shareholder attention were reported in connection with Mr Tan’s appointment.