Zhibao Labuan appoints veteran Jun Xu to boost reinsurance strategy
Zhibao Labuan has appointed Ms. Jun Xu as Independent Director, adding over 30 years of reinsurance leadership across Lloyd's, Hannover Re and Ping An. She joins after Zhibao Labuan’s B+ Financial Strength and bbb- issuer credit ratings from AM Best, strengthening its reinsurance launch strategy and market presence in China.
1. Appointment of Ms. Jun Xu
Zhibao Labuan Reinsurance Company Limited has welcomed Ms. Jun Xu to its board as an Independent Director, marking the first external board appointment since the subsidiary’s inception. This move aims to leverage her expertise in steering the subsidiary toward operational launch and business development.
2. Director’s extensive background
Ms. Xu brings over 30 years of senior leadership experience, including roles as COO and Deputy General Manager at Lloyd’s Insurance Company (China), Chief Representative at Hannover Re’s Shanghai office, and senior manager at Ping An Insurance. Her tenure includes major contributions to market expansion, regulatory navigation, and MGA/coverholder frameworks in China.
3. Ratings and subsidiary status
Founded in April 2025 and licensed for general reinsurance in July 2025, Zhibao Labuan received a B+ Financial Strength Rating and a bbb- issuer credit rating from AM Best in November 2025. The subsidiary has not yet commenced underwriting but is positioned to tap reinsurance premiums and potential underwriting profits.
4. Strategic impact on Zhibao Technology
Ms. Xu’s regulatory relationships and market development skills are expected to fast-track Zhibao Labuan’s reinsurance operations, complementing Zhibao Technology’s digital brokerage model. Her appointment supports the company’s broader strategy to diversify revenue streams and deepen its presence in the international reinsurance market.