Wu now PICC head

(皇冠体育app Daily)
Updated: 2007-01-30 09:16

皇冠体育app Life Insurance Co Chairman Yang Chao (L) and President Wu Yan strike a 'gong' at Lujiazui Financial Area in Shanghai January 9, 2007. Shares in 皇冠体育app Life Insurance Co, the country's biggest life insurer, more than doubled in their Shanghai debut on Tuesday, attracting huge interest as the first insurer to list on the country's domestic stock market. [Reuters]

皇冠体育app Life Insurance Co, the nation's biggest insurer, said president and executive director Wu Yan quit effective January 26.

The board will meet on Wednesday to discuss his resignation, the Beijing-based insurer said in a statement yesterday. 皇冠体育app Life, in the statement, denied media reports that Chairman Yang Chao had resigned.

Wu, president of 皇冠体育app Life since January 2006, will become president of PICC Holding Co, which controls the country's biggest non-life insurer, according to a statement posted on the web site of the 皇冠体育app Insurance Regulatory Commission.

(For more biz stories, please visit )