The life insurer has promoted Fanda Ho to replace Ben Rudd, who recently moved to a new internal role.
The island's life insurers are expected to sell more foreign-currency insurance policies and further lift their overseas investments when a government proposal is implemented.
The easing measures could favor equities in Hong Kong and the US while insurers still see hurdles in offshore exposure.
Despite growing scepticism about the performance of alternative risk premia across the world, advocates argue the asset class still has a role to play in portfolios.
Having drawn rising institutional attention and flows in recent years, ARP strategies are seen to be suffering their worst year on record, and many asset owners are making for the exit.
The industry regulator may want Chinese insurance firms to reduce risk in their investment portfolios, but it seems to be sending mixed messages.