Cigna & CMB Life General Manager Chang Ying has resigned upon reaching retirement age, and the successor may come from the China Merchants Bank Nanchang Branch.

Blue Whale News, March 24 (Reporter Shi Yu) — Today, a reporter learned from China Merchants Sinotrans Life that Chang Ying has applied to resign from the positions of General Manager and CEO of the company due to reaching the retirement age for leadership positions, and this has been approved by the board of directors. At the same time, Liu Jun has been appointed as the interim head.

China Merchants Sinotrans Life stated, “The company has a mature and stable management mechanism, and personnel changes do not affect the normal operation of the company.”

Public records show that Chang Ying, born in 1968, is 58 years old this year. She entered the insurance industry in 2002 and was appointed General Manager of China Merchants Sinotrans Life in December 2021, responsible for the overall management of the company, while also serving as CEO, head of investment, executive director of the wholly-owned subsidiary China Merchants Sinotrans Health Management Co., Ltd., and vice chairman of China Merchants Sinotrans Asset Management Co., Ltd. Before joining China Merchants Sinotrans Life, Chang Ying worked at COFCO Group, China-Britain Life Insurance, and other enterprises.

Liu Jun, who has been appointed as the interim head, served as Vice President of China Merchants Sinotrans Life starting in April 2024. From November 2002 to January 2024, Liu Jun worked at China Merchants Bank, where he successively held positions as Assistant General Manager and Vice General Manager of the Wealth Management Department at the head office; Secretary of the Disciplinary Committee and member of the board of directors at the Credit Card Center; and Deputy Director of the Training Center. In February 2024, Liu Jun joined China Merchants Sinotrans Life, serving as President of the Company’s Bancassurance Division; starting in April 2024, he has served as Vice President of the company, overseeing the bancassurance and group insurance businesses.

According to industry news, China Merchants Sinotrans Life plans to appoint Li Gongzheng as General Manager and CEO. It is reported that Li Gongzheng has worked in the China Merchants Bank system for many years, serving successively as Assistant General Manager and Vice General Manager of the Human Resources Department at the head office, member of the Party Committee and Deputy President of the Tianjin Branch, General Manager of the Interbank Clients Department at the head office, and Deputy President of the Shenzhen Branch. In 2022, Li Gongzheng returned to the head office of China Merchants Bank and has served as President of the Nanchang Branch since November 2023.

It is worth mentioning that in December 2025, China Merchants Sinotrans Life had just completed the transition of the chairman position, with former chairman Wang Xiaoqing stepping down. The current chairman, Wang Ying, has been with China Merchants Bank since 1997, having served as Assistant President and Vice President of the Beijing Branch, President of the Tianjin Branch, President of the Shenzhen Branch, and Assistant President of China Merchants Bank, and has been Vice President of China Merchants Bank since November 2023. She also serves as Chairman of China Merchants Fund Management Co., Ltd. and as a director of China UnionPay Co., Ltd.

China Merchants Sinotrans Life is currently jointly held by China Merchants Bank and Cigna Health Insurance Company, each owning 50% of the shares. The company has a registered capital of 2.8 billion yuan and has established 30 branches in Beijing, Shanghai, and other locations.

Latest performance data shows that in 2025, China Merchants Sinotrans Life achieved an annual insurance business revenue of 44.631 billion yuan and a net profit of 3.312 billion yuan, with annual investment yields and comprehensive investment yields of 4.73% and 4.65%, respectively. As of the end of 2025, the company’s core and comprehensive solvency adequacy ratios were 129.93% and 203.24%, respectively.

(Edited by Liu Sijia)

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