China Life Insurance Company Limited Change of President

BEIJING, Aug. 4, 2023 /PRNewswire/ -- China Life Insurance Company Limited (the "Company") (NYSE: LFC; SSE: 601628; HKSE: 2628) announced today that due to the adjustment of work arrangements, Mr. Zhao Peng tendered his resignation as the President, an Executive Director and a member of the Strategy and Assets and Liabilities Management Committee of the Company on August 4, 2023, which took effect on the same day.  Mr. Zhao Peng has confirmed that he has no disagreement with the board of directors (the "Board") of the Company and there are no other matters relating to his resignation that need to be brought to the attention of the shareholders of the Company.  The Company would like to express its gratitude to Mr. Zhao Peng for his contribution to the Company during his tenure of service.

The Company further announced that at the twenty-seventh meeting of the seventh session of the Board of the Company held on August 4, 2023, Mr. Li Mingguang has been appointed as the President of the Company and his qualification as the President of the Company is subject to the approval of the National Administration of Financial Regulation. Prior to obtaining such approval, the Board has appointed Mr. Li Mingguang as the person temporarily in charge of the Company.

The biographical details of Mr. Li Mingguang are set out below:

Mr. Li Mingguang, born in July 1969, has been serving as the Secretary to the Party Committee of the Company since July 2023, an Executive Director of the Company since August 2019, and a member of the Party Committee of China Life Insurance (Group) Company since April 2023. Mr. Li Mingguang joined the Company in 1996 and subsequently served as the Deputy Division Chief, the Division Chief, an Assistant to the General Manager of the Product Development Department, the Responsible Actuary of the Company, the General Manager of the Actuarial Department, the Chief Actuary, the Board Secretary and the Vice President of the Company. He was the Chief Actuary of China Life Pension Company Limited and a Director of China Life Asset Management Company Limited. He graduated from Shanghai Jiao Tong University with a bachelor's degree in computer science in 1991, Central University of Finance and Economics majoring in monetary banking (actuarial science) with a master's degree in 1996 and Tsinghua University with an EMBA in 2010. Mr. Li Mingguang is a Fellow of the China Association of Actuaries (FCAA) and a Fellow of the Institute and Faculty of Actuaries (FIA). He was the Chairman of the first session of the China Actuarial Working Committee and the Secretary-general of both the first and the second sessions of the China Association of Actuaries. He is currently the Vice Chairman of the China Association of Actuaries. Mr. Li Mingguang receives a special government allowance from the State Council.

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SOURCE China Life

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