The board of directors of The People's Insurance Company (Group) of China Limited announced that it has received the resignation report of Mr. Bai Tao, an executive director, the vice-chairman, the president. Due to work arrangements, Mr. Bai Tao has tendered his resignation as an executive director, the vice-chairman, the president and the member of the Strategy and Investment Committee of the Company. Mr. Bai Tao's resignation is effective on 20 January 2020.