ZhonAn Insurance’s Yaping Ou steps down as chairman

The board has elected Hai Yin as the new chairman.

ZhongAn Online P&C announced the resignation of Yaping Ou as the company's chairman due to personal work arrangements. 

The announcement did not provide further details about the reasons for his resignation, but Ou confirmed that he has no disagreements with the board and no other matters to announce in connection with his resignation. 

Despite Ou's resignation occurring during major changes at the company, such as the deconsolidation of ZA Technologies International and plans for onshore debt issuance, there is no indication from the announcement of any significant concerns about the company's ongoing operations. 

However, he will continue to serve as a non-executive director of the company and retain his positions on the board committees.

The board has elected Hai Yin, an independent non-executive director of the company, as the new chairman. 

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Yin's appointment is subject to approval by the National Administration of Financial Regulation. Until such approval is obtained, Ou will continue to perform his duties as Chairman.

Yin has a background in trading and has previously served as the Chief Executive Officer of ZhongAn during its early days, contributing significantly to product development, especially freight policies in collaboration with Alibaba. 

He re-joined ZhongAn in October 2022 and took up the directorship in November 2022, likely as part of a succession plan for Ou.