Yang
Mingsheng is a Chinese national who was born
in 1955. He is a Senior Economist who graduated from the Faculty of Financing
of Nankai University majoring in Monetary Banking with a Master’s degree in
Economics.
From
1980 to 2007 Yang worked at the Agricultural Bank of China. He held a number of
positions in that institution including Vice President of Shenyang Branch, Head
of Industrial Credit Department and President of Tianjin Branch. In 1997 Yang
was named Vice President of the Agricultural Bank of China and in 2003 became
President.
His
long years of experience in the financial industry include being the Vice
Chairman of China Insurance Regulatory Commission from 2007 to 2012.
In
March 2012 Yang became the Chairman of China Life Insurance (Group) Company. He
also became the Chairman of China Life Property and Casualty Insurance Company
Limited in March 2012. Yang became Chairman, Executive Director of China Life
in May 2012. Other positions added are
as Chairman of China Life Insurance (Overseas) Company Limited in January 2013,
and the Chairman of China Life Asset Management Company Limited in 2013.
Yang
leads a huge company, China Life is the largest insurance firm in China
headquartered in Beijing. The firm traces its beginning in 1949. It was floated
on the New York Stock Exchange and Hong Kong Stock Exchange in December 17 and
18, 2003 respectively and was the world’s largest IPO of that year. It became the first Chinese insurance company
to be listed in three markets when it was successfully listed on the Shanghai
Stock Exchange on January 9, 2007.
Just
to give a better picture of the size of the company
Yang heads, it has more than 653,000 exclusive agents in China with 88,000
bancassurance outlets and 54,000 account managers and financial advisors. It
also has 17,000 direct sales representatives in China and around 177 million
long-term individual and group life insurance, annuity contracts and long-term
health insurance policies in force.
China
Life with estimated total assets
of $326 billion is now making more investments aboard in search of bigger
profits.
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