Ma Mingzhe, Chairman of Ping An, summed up this year's layout in 12 words. When to retire depends on three factors

On March 25, Ping An of China (601318) held its 2020 annual shareholders meeting in Shenzhen.

At the meeting, Ping An Chairman Ma Mingzhe responded to investors’ questions about when to retire.

Ma Mingzhe said at the meeting that when to retire depends on three factors.

In addition, at the meeting, Chen Xinying, co-CEO of Ping An, also responded to the changes and reforms of life insurance executives that the outside world has been paying attention to.

At the shareholders' meeting, investors asked Ma Mingzhe questions about retirement.

In this regard, Ma Mingzhe said that this is not the first time that the retirement issue has been mentioned.

33 years ago, we founded Ping An and built this stage. At the same time, we performed here as the protagonists. However, we must abide by the laws of nature. People will retire one day. I also hope that one day I can watch other people perform below.

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As for when he can retire, Ma Mingzhe said that there are three factors: first, the shareholders have the right to decide whether they agree with me; second, whether he is still able to continue to create new and greater value for the company; third, Ping An

Is there a better management team? At present, all senior executives of Ping An are very professional, outstanding and young, mainly around 50 years old.

At the meeting, Ma Mingzhe also responded to this year’s work arrangements.

For 2021, Ma Mingzhe summarized this year's layout in 12 words at the shareholders' meeting - deepening reforms, continuing growth, and deploying the future.

Why deepen reform?

In Ma Mingzhe's view, only Ping An has this model of one-stop service for one customer, one bill, and multiple products in China.

He said that this year’s focus will be on deepening reforms and promoting the development of Ping An’s integrated finance, including further deepening, reforming and integrating the group, as well as promoting comprehensive digital marketing management and operations.

Regarding sustained growth, Ma Mingzhe pointed out that he hopes Ping An can show everyone a company with long-term sustainable growth.

In the past 20 years, except for 2020, Ping An has maintained an average profit growth of 20%.

2020 is the year of adjustment after Ping An was founded 32 years ago. It is like running a marathon. After a period of time, it adjusts its pace, retrains its physical fitness, and then starts another long-term marathon track to achieve sustainable growth. This is what the directors have reached.

*** knowledge.

In terms of planning for the future, in addition to deepening and deepening traditional financial businesses and developing differentiated business models, the most important thing is to seize more new growth points in the future.

There is a saying that "survive in competition and develop in innovation". The pursuit of sustainable growth is the core of Ping An's culture. It is also the common goal and pursuit of Ping An's board of directors, directors and supervisors for the company. Therefore,

We must closely focus on Ping An’s strategic core and deploy it in technology, new financial fields, and the medical industry that is closely related to finance.

In addition to responding to retirement issues, Chen Xinying also responded to the changes and reforms of life insurance executives that the outside world has been paying attention to at the shareholders' meeting.

According to Chen Xinying, this reform is the third largest, broadest, deepest and most complex reform in the life insurance industry since its establishment 25 years ago, but it has laid the foundation for shareholders to achieve steady development in the next 10 years or more.

Chen Xinying first pointed out the problems of Ping An and even the entire life insurance industry.

She pointed out that in the past, life insurance development, including Ping An, had a problem, that is, the quality of agents was greatly improved.

Reform must return to the original intention and strengthen the agent team.

According to her, Ping An Life Insurance’s reform has two levels, namely the 1+4 reform in terms of channels and products.

In terms of channels, one million agents do not pursue big gains and big pursuits, but pursue three high teams: high quality, high productivity, and high income.

Digital transformation is carried out in the sales department, and the directors and agents of the sales department are digitally transformed in terms of staff recruitment, training, and activity management in the sales department, so as to improve production capacity, the ability to acquire customers and serve customers, and improve the quality of millions of agents.

In terms of products, Ping An proposed "warm finance".

Insurance is no longer cold paper, providing services only after an incident occurs.

"Warm insurance" launches online and offline medical + services on the first day of becoming a customer, including nutritionists, sports coaches, family doctor services, chronic disease management, critical illness management, health management, and medical management

Four services.

By the end of the year, home care services will become the fifth service.

Regarding the frequent high-level changes in Ping An Life Insurance in the past two years, Chen Xinying also responded. She said that the life insurance team is still very stable.

According to Chen Xinying, the life insurance team has about 12 people, 70%-80% of whom are very stable, and 20-30% of the replacements may be new ones, such as CPOs, because our life insurance products change very quickly, so we need to

There are new ways to play.

Overall, the team is very stable. When Li Yuanxiang, the former co-CEO of Ping An, resigned, other co-CEOs helped promote life insurance. Another former chairman and CEO of Ping An Life, Lu Min, retired and was replaced by Yang Zheng, chairman and CEO of Ping An Health Insurance.

, the others are still exactly the same.