PICC P&C streamlines governance, dissolves supervisory committee

PICC Property and Casualty Company Limited (HKEX:2328) announced on November 21, 2025, that amendments to its Articles of Association, approved by shareholders on June 27, 2025, officially came into effect from November 20, 2025. This follows regulatory approval by the NFRA. A key change is the discontinuation of the Supervisory Committee, leading to the retirement of all former shareholder, employee, and external supervisors. The company expressed gratitude to these individuals for their contributions.

The amendments are documented as the fourteenth amendment to the Articles of Association, resolved at the annual general meeting for 2024 on June 27, 2025, and approved by the NFRA with reference Jin Fu [2025]663. The initial formulation of the Articles of Association dates back to July 6, 2003.

The updated Articles of Association reflect a streamlined governance model, with all duties and powers of the former Supervisory Committee now delegated to the Audit Committee of the Board of Directors. This structural modification aims to enhance efficiency and align with evolving corporate governance standards.