PICC Property and Casualty Insurance Appoints New Leader: 70s-born Zhang Daoming Becomes Party Committee Secretary

The leadership transition of China People’s Insurance and its core subsidiary, PICC Property & Casualty, has officially begun.

On March 24, the China People’s Insurance official website updated management information: Zhang Daoming, Vice President and interim head of PICC Property & Casualty, was appointed as a member of the Party Committee of China People’s Insurance and became part of the central management cadre, while also serving as Secretary of the PICC Property & Casualty Party Committee.

As per usual practice, after relevant procedures are completed, Zhang Daoming is expected to assume the roles of Vice President of China People’s Insurance and President of PICC Property & Casualty.

At that time, the number of “post-70s” in China People’s Insurance’s management team will increase to seven. Born in 1976, Zhang Daoming will become the youngest member and also the youngest president among the major subsidiaries of China People’s Insurance.

Over the past decade, the leadership of PICC Property & Casualty has seen frequent changes, with several senior executives falling from grace. Industry insiders believe that Zhang Daoming’s appointment is largely due to his strong professional skills and crisis management experience.

Throughout his career, he has played two critical roles as a “firefighter.”

The first “rescue” occurred at the grassroots level. In 2019, PICC Property & Casualty’s credit guarantee insurance suffered underwriting losses of up to 2.884 billion yuan, with the main Guangdong branch deeply embroiled in the collapse of partner JiuFu. At that time, Zhang Daoming took over the Guangdong branch, quickly halted credit insurance business, and stabilized the branch’s fundamentals.

The second “rescue” was at the core of the group. By the end of 2025, China People’s Insurance Vice President and PICC Property & Casualty President Yu Ze was dismissed. The then Vice President took on the interim leadership role, leading PICC Property & Casualty to maintain orderly operations.

Looking at his background, Zhang Daoming is a typical “deeply cultivated” internal cadre:

He started in the human resources and strategic development departments of PICC Property & Casualty. He briefly transferred to Anbang Property & Casualty but quickly returned to the PICC system, holding key positions in market research and channel management.

Since 2009, he has served in provincial branches in Zhejiang, Jiangxi, and Guangdong, rising from Vice General Manager to the top leader of each provincial branch, gaining familiarity with grassroots operations.

At the end of 2020, Zhang Daoming was promoted to Assistant President of PICC Property & Casualty, and in October of the following year, he was elevated to Vice President. He has also concurrently served as CFO of PICC Property & Casualty and as director of subsidiaries such as PICC Health and PICC Life.

On March 27, China People’s Insurance will hold its 2025 annual performance release. At that time, this “leading figure” in property insurance is expected to appear in a new capacity, signaling the development direction of this industry giant to the market.

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