Miao Jianmin, current head of China Life Insurance Co Ltd., has been appointed as vice chairman and president of the People’s Insurance Group of China, replacing its former head, who is under investigation for corruption.
Miao will replace Wang Jincheng, who was forced to resign last month after being a target of investigation by the Central Commission for Discipline Inspection, China’s top anti-graft agency. Wang was the highest-ranked insurance official that fell to Beijing’s war on corruption.
According to a report by Chinese financial publication Caixin, the ruling Communist Party has already announced Miao’s appointment, but People's Insurance Group has yet to make an announcement of its own.
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