PICC Property and Casualty Company Limited announced that it has received the resignation report of Mr. Luo Xi, a non-executive director and the chairman of the board of directors. Due to his age, Mr. Luo Xi has resigned from his positions as a non-executive director, the chairman of the Board, and the chairman of the Strategic Planning Committee of the Board. Mr. Luo Xi's resignation was effective from 16 March 2023.

Mr. Luo Xi has confirmed that he has no disagreement with the Board, and there is no matter relating to his resignation or other matter that shall be brought to the attention of The Stock Exchange of Hong Kong Limited and the Company's other directors and the shareholders of the Company.