Personal correspondence

The brokerage's own financial story

Chief Financial Officer China

A broker's financial result should explain the service earned, not borrow the scale of the premium placed.

A commission statement was my first lesson in the difference between an expected amount and an agreed amount. At Xunheya Insurance Agency, where I began work in August 1997, a policy record could look complete while the corresponding settlement required a correction or an explanation from the insurer. I had recently graduated from Chengyulan Commerce College. My responsibility was to reconcile the records under supervision, not to decide what coverage a client needed. The work rewarded patient attention to the agreement behind the amount.

I want a brokerage's financial account to show which income belongs to its own work, which balances belong to other parties and which future receipts remain conditional. Large placement figures can describe reach, but they cannot substitute for an examination of the fees, commissions and service obligations that sustain the business.

Commission and fee revenue: RMB412m; Calendar 2025; separate from premium placed
Operating offices: 6; Corporate broking and benefits service across China
Finance colleagues: 28; Reporting, settlement and planning

I keep the broker's earnings distinct from the much larger insurance transactions it helps arrange.

I lead finance at Yanluwei Risk Brokers, a founder-controlled Chinese intermediary serving corporate property, fleet and employee-benefits clients through six offices. In calendar 2025 we arranged insurance placements representing RMB3.8 billion in premium and reported RMB412 million of commission and fee revenue. The placed premium belongs to a different economic account from our revenue. We do not underwrite those policies or make the insurer's claims decisions. Our 380 colleagues include a 28-person finance team led through three managers, and I report to the chief executive.

My career began in insurance-agency accounts in 1997. I moved to Yanluwei in 2003 to work on commission reconciliation, then took responsibility for branch finance and group control. The work repeatedly returned me to the evidence behind a seemingly straightforward number. A placement could be recorded while its commission terms remained disputed. A renewal could appear likely while the client was still considering a different adviser. A bank balance could include money that the business had no right to use for its own expenses.

As CFO since August 2020, I have focused on making those distinctions clear before they influence spending or acquisition decisions. Recent cases include revising the forecast for a benefits portfolio with cancellation-sensitive commissions, separating client money from a short-term operating-cash discussion, and changing an acquisition proposal whose headline income depended heavily on relationships not yet renewed. These were financial and governance choices within an intermediary. I leave coverage advice, placement recommendations and client servicing to the qualified colleagues who own those responsibilities.

RMB412 million of commission and fee revenue

The calendar-2025 figure describes the brokerage's income. It is reported separately from the RMB3.8 billion of premium associated with placements arranged for clients.

Six offices with one reconciliation standard

Local service teams retain their customer relationships, while finance requires a consistent explanation of commission terms, outstanding differences and the status of cash held for other parties.

28 finance colleagues

The team covers reporting, settlement and planning through three managers. I present to the board as CFO but hold no director or underwriting appointment.

Current focus

I am making the acquisition review more explicit about which client relationships must be renewed after completion, which staff are essential to the service and how those conditions affect the price we can support.

Conversations I welcome

I would discuss one external board role in a professional intermediary or service enterprise, initially allowing twenty-two days a year after employer approval and a thorough relationship review.

The leadership record

Trusted with consequential decisions.

Formation

Bachelor of accounting and businessChengyulan Commerce College · 1997

Leihan asked which relationships we could support after the acquisition, before asking how much we should pay. The smaller proposal was harder to present but easier for the service team to stand behind.

Yunqiao ShunHead of corporate broking, Yanluwei Risk Brokers

The full record ↗

Contact

I would discuss one external board role in a professional intermediary or service enterprise, initially allowing twenty-two days a year after employer approval and a thorough relationship review.

Board appointments

Write to Leihan Contact page