Wang Bin

Wang Bin is a veteran executive in China’s insurance industry who long headed China Taiping Insurance Group. From 2012 to 2018, Wang Bin served as chairman of China Taiping, for a period of six years. According to Caixin, during the first three years of his leadership of Taiping he implemented a “three-year rebuilding” programme, regarded in the industry as achieving leapfrog development: in 2014, Taiping’s total premium income, total assets and net profit all doubled compared with three years earlier, establishing Taiping Life’s position in the “100-billion-yuan club”; in the following three years he shifted to a “premium strategy”, consolidating value on the basis of the scale achieved earlier.

In September 2018, Wang Bin was transferred to become chairman of China Life, and Luo Xi, from China Resources Group, succeeded him as chairman of China Taiping, after which the “premium strategy” disappeared from Taiping’s annual reports. According to Caixin, Taiping’s various earlier strategies and their execution were also re-examined from a risk perspective.