Zhibao Labuan appoints Jun XU as independent director

Zhibao Technology Inc. (NASDAQ: ZBAO) announced the appointment of Jun XU as an independent director on the board of its subsidiary Zhibao Labuan Reinsurance Company Limited, according to a company statement.

XU brings over 30 years of experience in the global insurance and reinsurance industry. She previously served as Chief Operating Officer and Deputy General Manager at Lloyd's Insurance Company (China) Ltd. for more than 15 years, where she helped develop Lloyd's China strategy and managed regulatory relationships.

Before joining Lloyd's, XU worked as Chief Representative at Hannover Reinsurance Company Shanghai Representative Office for more than a decade, developing specialty reinsurance portfolios. She also held a senior management position in the Reinsurance Department of Ping An Insurance Company of China.

XU holds a Master of Business Administration from Shanghai Maritime University and a Bachelor of Arts in Technological German from Tongji University. She completed the Developing Leaders at Lloyd's Program at London Business School and serves as a Council Member of the Shanghai Institute of Marine Insurance.

Zhibao Labuan was founded in April 2025 and received its general reinsurance license in July 2025. The subsidiary was created to reinsure business produced by Zhibao's operating entities in China. In November 2025, AM Best assigned Zhibao Labuan a Financial Strength Rating of B+ and a Long-Term Issuer Credit Rating of "bbb-" with a stable outlook.

The company stated that Zhibao Labuan has not commenced operations as of the date of the announcement.

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