On December 6, 2025, it was confirmed by the official announcement of the Chinese Communist Party that Vice President Yu Ze of the People’s Insurance Group of China has been investigated and fallen from power after being taken away earlier.
According to the report released by the Central Commission for Discipline Inspection of the Communist Party of China on December 6, Yu Ze, a member of the CPC committee and vice president of the People’s Insurance Group of China, is suspected of “serious violations of discipline and law” and is currently under investigation.
The public account “Securities China” under the Securities Times reported on Monday, December 1st, that “news about Yu Ze being taken away had been circulating within the industry over the weekend.” Individuals close to the People’s Insurance Group confirmed this news. It is said that the People’s Insurance Group has held a party committee meeting regarding this matter. Some individuals mentioned that Yu Ze’s trouble was “not unexpected” and that there have been “various reports against him.”
On December 1st, in the A-share and Hong Kong stock markets, the related stock prices of the People’s Insurance Group of China saw significant declines, with A-share dropping by over 5% and Hong Kong-listed China People’s Insurance Group and People’s Insurance Property and Casualty Insurance experiencing drops of over 6% at one point.
Public records show that Yu Ze, 54 years old this year, graduated from Nankai University in 1994 and entered the insurance industry. He worked at the China People’s Insurance Property and Casualty Insurance Tianjin Branch from July 1994 to October 2006; from October 2006 to 2019, he was with the Ping An Insurance company. He returned to People’s Insurance Group in 2019 and was appointed as a member of the People’s Insurance Group’s CPC committee and vice president.
Reportedly, Yu Ze has a keen interest in raising pigeons and enjoys researching them. Influenced by his neighbors, he started to interact with pigeons since the fourth grade of elementary school and has not stopped raising them even with a busy work schedule. During his time at Ping An Property and Casualty Insurance, he would fly from Shenzhen to Tianjin every Friday to take care of his pigeons and fly back to Shenzhen for work on Mondays. In addition, Yu Ze has participated in hundreds of related pigeon-breeding events and later established a pigeon loft named “Yu Ze Pigeon Loft” in Tianjin.
The People’s Insurance Property and Casualty Insurance is an area heavily affected by financial corruption. Among the last five top executives, including Wang Yincheng, Lin Zhiyong, and now Yu Ze, three of them have been investigated.