Appointment of Huang Benyao as President of China Life Asset Management Co. Ltd.

Huang Benyao, a seasoned veteran in the insurance sector, is set to take on the role of president at China Life Asset Management Co. Ltd., following an internal announcement confirmed by sources familiar with the matter. Huang’s impressive track record includes a recent promotion to president at PICC Asset Management Co. Ltd., where he showcased his expertise in managing assets totaling 2.5 trillion yuan.

China Life Asset Management, one of the largest insurance asset management firms in China, boasts a substantial AUM of approximately 5.4 trillion yuan. This figure represents a significant portion of the total investment funds in China’s insurance industry, which amounted to 28.2 trillion yuan at the end of last year.

Huang’s appointment comes at a pivotal time for China Life Asset Management, as the company reported a 21% increase in net profit last year, reaching 2.8 billion yuan. In comparison, PICC Asset Management saw a 20% rise in net profit, totaling nearly 500 million yuan.

With Huang’s extensive experience and impressive track record, industry experts are optimistic about the future of China Life Asset Management under his leadership. For further information, contact reporter Qing Na and editor Michael Bellart.