CIRC Assistant to Chairman to Head China Life

Yuan Li, assistant to chairman of the China Insurance Regulatory Commission (CIRC), the top Chinese insurance regulator, is going to serve as president of China Life Insurance (Group) Co.

Yuan was born in September 1962 and before acting as spokesman and assistant to chairman of the CIRC, he served as director with the Department of Policy Reforms and Regulations and director with the Department of Development and Reform at the watchdog. And prior to jointing CIRC, he acted as assistant to head of the international business division at People's Insurance Company (Group) of China Ltd. (PICC) and general manager of the US branch of Ping An Insurance (Group) Company of China, Ltd. (SHSE: 601318 and SEHK: 2318).

China Life Insurance (Group) Co., parent of China Life Insurance Co., Ltd. (SEHK: 2628 and SHSE: 601628), saw aggregate premium revenue hit CNY 351 billion in 2010, up 15.9 percent year on year, with net assets exceeding CNY 60 billion as at the end of the year.