China Merchants Cigna once again experiences senior personnel changes, Chang Ying steps down as General Manager upon reaching retirement age

Log in to Sina Finance APP and search for [Information Disclosure] to see more evaluation levels

Progressing the appointment of the new general manager

On March 25th, China Merchants Trust and Assurance announced a personnel change. After review and approval at the fourth meeting (ad hoc) of the eighth board of directors, the company approved that General Manager and CEO Chang Ying resign from her position.

China Merchants Trust and Assurance stated that Chang Ying is stepping down due to reaching the age limit for leadership roles, and the company has appointed Liu Jun as interim person in charge.

According to available information, Chang Ying was born in 1968, graduated from Nankai University with a Ph.D. in Finance, and is a North American quasi-actuary. She joined China Merchants Trust and Assurance in January 2021. In addition to overseeing the company’s overall operations, she also serves as CEO, investment head, executive director of the wholly owned subsidiary China Merchants Trust and Assurance Health Management Co., Ltd., and vice chairman of China Merchants Trust and Assurance Asset Management Co., Ltd.

Chang Ying has over 20 years of experience in the insurance and financial industries. Early in her career, she worked at COFCO Group. She entered the insurance industry in 2002 and held long-term positions at China Life (UK) and China Life (UK) Life Insurance, including deputy general manager, deputy chief actuary, and chief marketing officer.

During her tenure, Chang Ying promoted the implementation of China Merchants Trust and Assurance’s global health strategy, positioning the company as “a provider of high-quality medical resource integration and full-cycle health management,” solidifying its differentiated development path, while continuously upgrading the health system and specialized services. This has been a main focus of service transformation in the life insurance industry in recent years.

Additionally, China Merchants Trust and Assurance stated that the company is orderly advancing the recruitment of the new general manager and will fulfill its disclosure obligations in accordance with relevant laws, regulations, and regulatory requirements in a timely manner.

Market sources suggest that the successor may be Li Gongzheng, the branch manager of China Merchants Bank Nanchang Branch, but this has not been confirmed.

Public information shows that China Merchants Trust and Assurance was established in 2003, with a current registered capital of 2.8 billion yuan. It specializes in health and medical insurance and is a Sino-foreign joint venture, with China Merchants Bank and Cigna Group’s Cigna Health Life Insurance Company holding equal shares.

In September last year, China Merchants Trust and Assurance underwent a chairman change, with Wang Ying, vice president of China Merchants Bank, replacing Wang Xiaoqing as chairman and member of the relevant professional committees of the board. Her appointment was approved by regulators until the end of 2025. Wang Xiaoqing was transferred to become general manager of China Merchants Bureau Financial Holdings.

Wang Ying joined China Merchants Bank in January 1997, serving as assistant to the president of Beijing Branch, vice president, president of Tianjin Branch, president of Shenzhen Branch, and assistant to the president of China Merchants Bank. Since November 2023, she has served as vice president of China Merchants Bank. She also serves as chairman of China Merchants Fund Management Co., Ltd. and director of China UnionPay Co., Ltd.

China Merchants Trust and Assurance’s Q4 2025 solvency report shows that last year, the company achieved a gross premium income of 45.21B yuan, and its unaudited total assets under new standards were 257.39B yuan. Thanks to the switch in accounting standards, the company posted a net profit of 3.31B yuan for the full year of 2025, a 5.18-fold increase year-over-year, ranking among the top in bank-affiliated insurance companies in profit growth.