PICC Group Confirms Appointment of New Independent Non-Executive Director as Shiu Sin Por Retires

People’s Insurance Co (Group) of China ( (HK:1339) ) has issued an update.

The People’s Insurance Company (Group) of China Limited has confirmed that the appointment of Mr. Jia Ruo as an independent non-executive director has become effective following regulatory approval from the National Financial Regulatory Administration and prior shareholder approval. Mr. Jia also assumes the roles of chairman of the Related Party Transactions Control Committee and member of both the Risk Management & Consumers’ Rights and Interests Protection Committee and the Audit Committee, with his term running until the end of the current board session and remuneration set in line with the company’s director pay structure. Concurrently, long-serving independent non-executive director Mr. Shiu Sin Por has retired from the board and its key committees; he has indicated no disagreement with the board and no matters requiring disclosure, suggesting a smooth transition in the company’s independent oversight and governance framework.

The most recent analyst rating on (HK:1339) stock is a Hold with a HK$7.00 price target. To see the full list of analyst forecasts on People’s Insurance Co (Group) of China stock, see the HK:1339 Stock Forecast page.

More about People’s Insurance Co (Group) of China

The People’s Insurance Company (Group) of China Limited is a major Chinese insurance group, listed in Hong Kong, operating in the financial services and insurance industry with a broad base of insured customers and shareholders. The company provides a range of insurance products and related financial services, focusing on risk management, consumer rights protection and regulatory compliance in mainland China and overseas capital markets.

Average Trading Volume: 44,391,506

Technical Sentiment Signal: Buy

Current Market Cap: HK$420.1B

Learn more about 1339 stock on TipRanks’ Stock Analysis page.