Source: Beijing Business Today
Local insurers are increasingly turning to market-based channels to recruit senior executives. On 10 month 14, Dongwu Property & Casualty released a public recruitment notice, opening positions including Deputy General Manager/Assistant General Manager and Chief Risk Officer. Dongwu's "open selection" is not an isolated case. A review by Beijing Business Today reveals that this year, other regional insurers such as Changjiang P&C, Guoren P&C, and Guolian Life have also publicly recruited general managers or deputy general managers from the market to attract management talent.
From an industry insider's perspective, behind seemingly routine personnel shifts—from internal promotions to open market recruitment, and from shareholder-appointed leaders to professional managers—lies the deeper logic of the sector's transformation.
Another insurer launches "open selection" for senior executives
More and more regional property and life insurers are publicly selecting executives through industry-wide open competitions. Market-based hiring of professional managers is becoming a new trend in the sector.
On 10 month 14 day, Dongwu Property & Casualty Insurance released a recruitment notice, seeking 2 Deputy General Managers/Assistant General Managers for the headquarters, 1 Chief Risk Officers, as well as positions for Jiangsu Branch Deputy General Managers/Assistant General Managers and reserve management cadres at branch offices. The company is opening competitive selection channels for professional talent in the insurance industry.
Dongwu Property & Casualty is not an isolated case. In fact, since the beginning of this year, multiple local state-owned insurance companies have begun to appoint executives through market-based selection processes.
At the end of 4 this year, Changjiang Property & Casualty Insurance Company publicly recruited a general manager, requiring extensive experience in finance or economics. In 3, Guolian Group issued a highly noticeable recruitment announcement to publicly select one general manager and 1 deputy general managers (for the bancassurance channel) for Guolian Life Insurance. The announcement stated the purpose of this market-based recruitment: to further enhance corporate vitality and competitive strength. Going back further in time, in 2, Guoren Property & Casualty Insurance published a general manager recruitment notice via its WeChat official account, as the current general manager, Deng Ke, is approaching retirement and plans to recruit a new general manager externally.
The shift in talent mechanisms reflects the broader governance reform of local insurers. Fu Yifu, a special researcher at Subao Bank, notes that moving from internal appointments to industry-wide market-based "open selection" for executives is an inevitable outcome driven by industry cycles, corporate governance evolution, and shifting shareholder expectations. On one hand, the insurance sector is undergoing a deep adjustment phase, with significantly heightened pressures in asset-liability management, risk control, and compliance. Internal candidates often lack end-to-end operational experience, making traditional internal appointments insufficient to address complex business challenges. On the other hand, local state-owned shareholders have evolved their strategic focus—from merely obtaining financial licenses to prioritizing sustainable operations, risk mitigation, and profitability—thereby raising the bar for executives' practical expertise. Meanwhile, regulators are tightening oversight on insurer governance, imposing mandatory requirements on executive qualifications and professional competence, which forces shareholders to break away from closed-door hiring practices.
Fu Yifu further analyzed that during the initial licensing phase, shareholders prioritized appointing personnel from within the system to implement local strategic goals and rapidly establish an organizational framework, enabling the institution's transition from 0 to 1. However, insurance operations require deep industry expertise in liability-side product actuarial analysis, investment-side asset allocation, and risk control and compliance. Introducing professional managers brings mature industry experience to the company, enhancing operational quality while maintaining its core mission of serving the real economy.
Hire talent and keep them.
In fact, insurers' public recruitment of senior executives is also encouraged by regulators. The "Corporate Governance Criteria for Banking and Insurance Institutions" encourages such institutions to adopt market-based selection mechanisms, recruit senior executives through open and transparent processes, and continuously enhance the professional competence and business capabilities of their senior management.
From an external perspective, the insurance industry has moved beyond its粗放 phase of scale-driven expansion into a new cycle focused on value transformation, regulatory compliance, and precision operations. Intense market competition and stringent regulatory oversight are jointly compelling insurers to accelerate their external talent acquisition efforts.
However, market-oriented hiring reforms must go beyond the "first step" of recruiting executives. To truly attract, utilize, and retain external talent, organizations must establish a comprehensive support system that removes institutional barriers to onboarding.
On talent retention, Fu Yifu outlined three key measures. First, clarify roles and responsibilities by strengthening corporate governance and empowering the board of directors. Clearly define the authorities of shareholders, the board, and management to reduce excessive interference in daily operations and safeguard the autonomy of professional managers. Second, optimize performance evaluation and compensation systems by establishing long-cycle metrics aligned with the insurance industry's characteristics. Shift focus away from short-term scale targets toward solvency, risk control, and long-term value. Within the state-owned framework, implement differentiated pay structures, term-based incentives, and clawback mechanisms for risk. Third, improve term management and exit mechanisms by setting clear performance goals and creating market-driven exit pathways to break the "up only, never down" dynamic. Strengthen oversight by embedding compliance and risk management throughout all operational processes, granting managers sufficient freedom while maintaining the bottom line for state financial asset risks and avoiding formalistic hiring that offers no real empowerment.
Beijing Business Today reporter Li Xiumei
