"His resignation is mainly due to his poor performance, he was resting on the laurels of his previous success," the insider said.

According to statistics from the Shanghai Insurance Regulatory Bureau, the market of Haier New York Life, a joint venture between New York Life and China's largest electric consumer appliances maker Haier Group, grew 88.6 percent in the first ten months of this year in Shanghai, ranking next to last among all Shanghai life insurers.

......

The full text is available in the December Issue of China Insurance.

(For more biz stories, please visit Industry Updates)