On June 6th, Blue Whale News reported significant personnel changes at AIA Group. According to an announcement on the Hong Kong Stock Exchange, independent non – executive chairman and director Xie Shirong will step down effective September 30, 2025. In recognition of his contributions, the board of directors has decided to confer upon Xie Shirong the title of Honorary Chairman of AIA Group.
Appointment of Du Jiaqi
The successor is Du Jiaqi, a former executive with extensive experience at AIA. AIA announced the appointment of Du Jiaqi as the company’s Independent Non – Executive Chairman and Independent non – Executive Director, subject to regulatory approval. His term will begin on October 1, 2025. Du Jiaqi will also serve as the chairperson of the Nomination Committee and a member of the Remuneration Committee.
Du Jiaqi’s Background
Du Jiaqi, 67, brings over 40 years of senior experience in the financial services industry across Asia, the United States, the United Kingdom, and Africa. His career includes:
Group Chief Executive Officer of Prudential Limited from 2005 to 2009.
Non – executive director of the Bank of England from 2009 to 2012.
Independent director of Goldman Sachs Group from 2012 to 2017.
Executive Director, Group Chief Executive Officer, and President of AIA from 2010 to 2017, during which AIA was listed in Hong Kong and implemented the “Best Agent” strategy, significantly increasing the value of its new business.
Strategic Importance of Du Jiaqi’s Return
Du Jiaqi’s return to AIA coincides with a crucial period as the company accelerates its expansion in mainland China. In 2020, AIA Life was approved for a “spin – off” and became a wholly – owned subsidiary of AIA Group in mainland China. Since then, AIA Life has expanded its branches across multiple regions, including Sichuan, Hubei, Henan, Shandong, and Chongqing, with 14 provincial branches now covering over 70% of the mainland life insurance market.
In terms of channels, AIA Life has been strengthening its bancassurance channel, including partnerships with the Bank of East Asia, a stake in China Post Life Insurance, cooperation with Postal Savings Bank of China, and strategic relationships with Shanghai Pudong Bank and Bank of China.
Future Outlook
With China’s life insurance market entering a transformative phase, Du Jiaqi’s return brings significant potential for AIA’s development and strategy advancement in the Chinese region. His rich industry experience and familiarity with AIA are expected to provide outstanding leadership. Xie Shirong highlighted Du Jiaqi’s contributions during his previous tenure and expressed confidence in his ability to lead AIA through its next phase of growth.
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