Ping An Group
22 Nov 2019

Ping An Appoints Lu Min as Chief Insurance Business Officer

Lee Yuansiong has Resigned as Executive Director and Senior Executive of the Company to Pursue other Personal Career Interests

(Hong Kong, Shanghai, 22 November 2019) Ping An Insurance (Group) of Company of China, Ltd. (hereafter “Ping An” or the “Group”, HKEx:2318; SSE:601318) announced Mr. Lee Yuansiong will resign from the company's executive director, Co-CEO, Executive Deputy General Manager and Chief Insurance Business Officer to pursue other personal career interests, effective on January 31, 2020. The company will appoint Mr. Lu Min, the Chief Information Officer of the Group and Chairman of Autohome, to take over as the Chief Insurance Business Officer in charge of the company's insurance businesses and retail integrated financial services businesses.

Mr. Lee Yuansiong said in his 16 years at Ping An he witnessed the great effort and development miracle of Ping An, along with the tide of China’s reform and opening up. “My 16-year service at Ping An has been the most important and precious experience of my life, and represents the proudest achievement of my career.”

In the past 16 years, Mr. Lee rose through the ranks of the company from an assistant manager level to General Manager and Chairman of Ping An Life, Chief Insurance Business Officer, Executive Deputy General Manager, rising to Co-CEO of the Group.

“Each step of the way, my career path has benefited from Ping An’s superior corporate operating systems, professional managerial mechanisms, its open and inclusive culture and its array of pioneering teams. In my time at Ping An, it has been my privilege to have established a profound friendship with Chairman Ma Mingzhe, the founder, Chairman and CEO of Ping An Group, my Co-CEOs and management at all levels of the company. I am grateful to my Ping An colleagues for their support and help during my career. I am especially grateful to Chairman Ma Mingzhe for his wisdom and his nurturing of my development. His support and guidance will benefit me for the rest of my life.”

Ping An expressed sincere gratitude to Mr. Lee Yuansiong for his important contribution to the company. Since joining Ping An in 2004, Mr. Lee Yuansiong was committed to applying international insurance standards and advances to China's changing local market conditions. This enabled Ping An to strengthen its core competitive advantages in its insurance businesses. Ping An has been able to upgrade and enhance its insurance business platform in terms of products, services, distribution, operating systems, and talent development. Mr. Lee Yuansiong also made significant contributions to the Ping An Group transformation under its “Finance + Technology”, “Finance + Ecosystems” strategies.

Mr. Lu Min joined Ping An in 1997 and is currently the Chief Information Officer of the group and Chairman and CEO of Autohome. He holds a master's degree in business administration from Dundee University in the UK.

In his 22 year career at the company, Mr. Lu Min served as Deputy General Manager of Ping An Life and Chairman and CEO of Ping An Health (in total 12 years), Special Assistant to Group Chairman (5 years), and Director of Group Strategic Development Center (5 years). Mr. Lu Min has strong strategic leadership, rich experience and a record of outstanding performance. Since Mr. Lu Min became Chairman and CEO of the New York listed Autohome in 2016, the company has benefited from Ping An’s strong “finance + technology”, “finance + ecosystem” strategies leading to Autohome becoming a smart auto ecosystem with net profit increasing by 1.5 times, and the company stock price rising by more than 300%.

In his role as Group's Chief Information Officer, Lu Min has actively promoted the innovation and development of the Group's technology businesses. In the view of Ping An Mr. Lu Min is the best candidate for Ping An Chief Insurance Business Officer. He will continue to promote the data-driven operation and smart transformation of the Group insurance businesses to significantly enhance their competitiveness and take synergies across the retail integrated financial businesses to a new level.

Ping An has a sophisticated corporate governance system, sound business management decision-making mechanism and mature talent development and retention and succession planning.

Under the visionary leadership of Chairman Ma Mingzhe our strategy will remain unchanged. We are committed to Ping An Group strategic transformation under our “finance + technology”, “finance + ecosystems” strategies. We will continue to evolve and develop our operations across our three business lines of retail, corporate and technology. We will continue to work together to strengthen corporate culture, develop and retain talent and meet the major opportunities and challenges of the new era. We will ensure Ping An continues to deliver high quality and sustainable development over the long-term.

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