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China Life Insurance (Group) appoints president

China Life Insurance (Group) Co. will appoint Yuan Changqing as its new vice chairman and president, replacing Miao Jianmin who left in April, a spokeswoman told S&P Global Market Intelligence.

Yuan Changqing has been serving as chairman of the board of supervisors for Agricultural Bank of China Ltd. since June 2015. He will fill in all vacancies left by Miao Jianmin, including a nonexecutive director position at publicly listed unit China Life Insurance Co. Ltd.

Separately, Agricultural Bank of China said in a statement that Yuan resigned as chairman of its board of supervisors, effective June 6.

Yuan has not officially started at his position at China Life Insurance (Group), the spokeswoman added.