Weekly Insurance Overview (3.7—3.13)

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◆ Voice of Regulation

Long-Term Care Insurance Will Be Fully Built Out

The National Healthcare Security Administration recently said that during the “15th Five-Year Plan period,” long-term care insurance will move from pilot programs to full implementation. This means that long-term care insurance—often referred to as the “sixth social insurance” in China—will become an important part of the country’s social security system. From localized pilots to full implementation means that more families will be included in the coverage scope, and the social security safety net will be further improved.

** ◆**** Industry Focus**

Promoting Compliance, Improving Quality and Efficiency in the Insurance Sector; “Research on Legal and Compliance Hot Topics in the Insurance Industry” Published

On March 11, the China Insurance Industry Association stated that, against the backdrop of fully advancing law-based governance of the country and deepening the structural reform of the financial supply side, the association organized and compiled Research on Legal and Compliance Hot Topics in the Insurance Industry. The publication of this book is an important initiative to promote the spirit of the Constitution and to help the insurance industry improve the quality and efficiency of its compliance governance.

** Dividends-Backed Policy Minimum Guaranteed Interest Rate “Breaks Through” to 1.25%**

The actuarial interest rate for personal insurance products has once again undergone a shift. Recently, the joint-venture insurer China-UK Life Insurance launched “Fu Manjia C (Enjoy Version) Whole-Life Insurance (Dividend Type),” setting the upper limit of the pre-specified interest rate for guaranteed benefits at 1.25%, which is 50 basis points lower than the 1.75% that is generally used across the industry at present. At the same time, the product demonstration interest rate has also been adjusted from 4.25% to 3.9%.

** ◆**** Finance & Personnel**

Ping An Life Vice President Cai Ting Acting as Chairman

After Yang Zheng of Ping An Life retired, he was rehired upon completion of his term and has already stepped down from his role as the company’s top executive. In a company announcement, it states that, currently, Cai Ting—Vice Chairman and Vice President—will act as chairman.

** Wu Chuanming Appointed Chairman of Guofuzhou Life Insurance—Approved ****

The National Financial Regulatory Administration’s Guangxi Regulatory Bureau has officially approved Wu Chuanming’s appointment as the chairman of Guofuzhou Life Insurance Co., Ltd., and required him to take up the position within 2 months from the date the approval is issued; if he fails to assume the role within the deadline, the approval will become invalid. In addition, the company must urge him to strictly comply with regulatory requirements, continue studying laws and regulations related to economic and financial matters, strengthen risk and compliance awareness, and faithfully and diligently perform his duties.

** Wang Xuze Approved as General Manager of Ping An Life Insurance**

On March 9, Ping An Life released a temporary information disclosure report showing that it had received the National Financial Regulatory Administration’s approval regarding Wang Xuze’s qualifications to serve as director and general manager of Ping An Life Insurance Co., Ltd. (Jin Fu〔2026〕112), approving Wang Xuze to serve as the company’s general manager.

** Huang Jian Appointed Party Secretary of Lian’an Life; Elected as Director**

Recently, Lian’an Life Insurance Co., Ltd. released information related to the resolution of the second extraordinary general meeting of shareholders in 2026. The meeting deliberated and approved the proposal to “elect Huang Jian as a director of the fourth session of the board of directors of Lian’an Life.” In addition, on February 24, Huang Jian attended related activities of the company in his capacity as Party Secretary of Lian’an Life.

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(Editor: Wang Xinyu)

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