(Yicai Global) March 9 -- Ping An Health Insurance, a subsidiary of financial conglomerate Ping An Insurance Co. of China, has appointed an ex-general manager of Aegon THTF Life Insurance as its new general manager after three months of vacancy.

Zhu Yong will become the next GM at Ping An Health after the China Banking and Insurance Regulatory Commission approves his qualifications, online news outlet The Paper reported yesterday. Li Hao, the previous GM at Shanghai-based Ping An Health, resigned in December to join Samsung Property and Casualty Insurance.

Born in 1969, Zhu has nearly 30 years of experience in the insurance sector. He took the helm at Aegon THTF, a joint venture between Dutch insurance giant Aegon and Chinese software firm Tsinghua Tongfang, in 2015. Before that, he worked for years for another JV called Generali China Life Insurance.

Zhu resigned from Aegon THTF in November, 2021.

Chinese people are constantly paying more attention to health insurance, Zhu said in an interview with Chinanews.Com earlier. Health insurance products will also continuously become more attractive to people with more tax breaks, he added.

Founded in 2005, Ping An Health is one of the pioneering health insurers in China. Last year, it served over 20 million customers and settled 551,000 claims worth about CNY5.1 billion (USD731.8 million), per the firm's website.

During the first three quarters of last year, Ping An Health logged CNY822.8 million (USD118.1 million) in net profit and its revenue tallied CNY12.8 billion (USD1.8 billion) from its insurance business, according to its earnings report.

Editor: Emmi Laine, Xiao Yi