Insurance Weekly Overview (3.7—3.13)

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◆Regulatory Voice

Long-term Care Insurance to Be Fully Established

The National Healthcare Security Administration recently announced that during the 14th Five-Year Plan period, long-term care insurance will shift from pilot programs to full implementation. This marks the integration of long-term care insurance, known as the sixth social security “insurance,” into China’s social security system. Moving from partial pilots to full establishment means more families will be covered, and the social safety net will be further improved.

◆Industry Focus

Enhancing Industry Compliance and Efficiency, Publication of “Research on Hot Legal and Compliance Issues in the Insurance Industry”

On March 11, the China Insurance Industry Association stated that, in the context of advancing the rule of law and deepening supply-side structural reforms in finance, the association has compiled “Research on Hot Legal and Compliance Issues in the Insurance Industry.” The publication of this book is an important step in promoting the spirit of the Constitution and improving the quality and efficiency of compliance governance in the insurance sector.

Guaranteed Rate for Dividend Insurance “Breaks Through” to 1.25%

The reservation interest rate for personal insurance products has once again seen a change. Chinese-British Life Insurance, a joint venture insurer, recently launched “Fumanjia C (Enjoyment Version) Whole Life Insurance (Dividend Type),” setting the guaranteed benefit reservation rate cap at 1.25%, a 50 basis point decrease from the industry-standard 1.75%. Meanwhile, the product’s demonstration interest rate has been adjusted from 4.25% to 3.9%.

◆Financial Personnel Updates

Ping An Life Vice President Cai Ting Acts as Chairman

After Yang Zheng’s retirement and subsequent rehire, he has stepped down from his top position at Ping An Life. The company announced that Vice Chairman and Vice General Manager Cai Ting is currently acting as Chairman.

Wu Chuanming Appointed Chairman of Guofu Life Insurance, Approved

The Guangxi Regulatory Bureau of the China Banking and Insurance Regulatory Commission officially approved Wu Chuanming’s appointment as Chairman of Guofu Life Insurance Co., Ltd., requiring him to assume office within two months of the approval; failure to do so will invalidate the approval. The company is also required to supervise him to strictly follow regulatory requirements, continuously study economic, financial, and legal regulations, strengthen risk and compliance awareness, and diligently perform his duties.

Wang Xuze Approved as General Manager of Taiping Life

On March 9, Taiping Life issued a temporary disclosure report stating that it received the “Approval from the National Financial Regulatory Administration for Wang Xuze’s Appointment as Director and General Manager of Taiping Life Insurance Co., Ltd.” (Jinfu [2026] No. 112), approving Wang Xuze to serve as the company’s General Manager.

Huang Jian Appointed Party Secretary of Lian Life, Elected as Director

Recently, Lian Life Insurance Co., Ltd. announced the resolutions of its second extraordinary shareholders’ meeting in 2026, which approved the proposal to elect Huang Jian as a director of the fourth board of Lian Life. Additionally, on February 24, Huang Jian attended related company activities as Party Secretary of Lian Life.