Biz Scene: BIZ MOVE

Wu now PICC head

China Life Insurance Co, the nation's biggest insurer, said president and executive director Wu Yan (right) quit effective January 26.

The board will meet on Wednesday to discuss his resignation, the Beijing-based insurer said in a statement yesterday. China Life, in the statement, denied media reports that Chairman Yang Chao had resigned.

Wu, president of China Life since January 2006, will become president of PICC Holding Co, which controls the country's biggest non-life insurer, according to a statement posted on the web site of the China Insurance Regulatory Commission.

(China Daily 01/30/2007 page15)