PICC Property and Casualty Company Limited (the "Company") announced that on the 45th meeting of the 5th session of the Board of Directors of the Company held on 29 May 2023, the Board of Directors of the Company (the "Board") has elected Mr. Yu Ze, an Executive Director and the President of the Company, as Vice Chairman of the Board ("the Vice Chairman"). The term of office of Mr. Yu Ze as the Vice Chairman commences from 29 May 2023 and shall end upon the expiry of the term of appointment of the 5th session of the Board. Yu Ze, aged 51, a university graduate, the Vice Chairman, an Executive Director and the President of the Company. Mr. Yu joined the People's Insurance Company of China in July 1994 and worked until July 2003. From July 2003 to October 2006, Mr. Yu served in the Company, and was the Deputy General Manager of the Motor Vehicle Insurance Department of
Tianjin Branch of the Company. He worked at The Tai Ping Insurance Company Limited (Taiping General Insurance Co. Ltd.) from October 2006 to December 2019 and served as the General Manager of the Tianjin Branch in February 2007, Marketing Director in May 2009, Assistant General Manager in April 2010, Deputy General Manager in October 2012, Deputy General Manager (in charge) in October 2015, and the General Manager in September 2016.
He also served as a Director of Taiping Reinsurance Brokers Limited, the Chairman of the board of directors of Taiping Science and Technology Insurance Co. Ltd., a Director of Taiping-Starr Holdings, LLC and a Director of Taiping-Starr Insurance Agency Inc. Mr. Yu was appointed as the Vice President of The People's Insurance Company (Group) of China Limited* since December 2019. Mr. Yu once served as the Responsible Compliance Officer
and Chief Risk Officer of The People's Insurance Company (Group) of China Limited, the Chairman of the board of directors of PICC Investment Holding Company Limited, a Non- executive Director and the Chairman of the board of directors of PICC Information Technology Co. Ltd. and a Non-executive Director and the Chairman of the board of directors of PICC Financial Services Company Limited. Mr. Yu has been a Vice President of Insurance Association of China since June 2022. Mr. Yu graduated from Nankai University in July 1994 with a bachelor's degree in economics.