The administrative penalty information disclosure form of the Shanluo Supervision Bureau of the China Banking and Insurance Regulatory Commission shows that the legal representative Jiang Shicheng is directly responsible for the behavior of China Life Insurance Commercial South B

Source: China Economic Network

China Economic Network Beijing, March 23 News On March 23, the China Banking and Insurance Regulatory Commission website released the administrative penalty information disclosure form of the China Banking and Insurance Regulatory Commission Shangluo Supervision Branch (Commercial Banking and Insurance Regulatory Commission Penalty Judgment [2020 〕No. 4) shows that the Shangnan Branch of China Life Insurance Co., Ltd. (referred to as "China Life", 601628.SH, HK.02628) changed the Nanjie Marketing Service Department under its jurisdiction without the approval of the banking and insurance regulatory authorities. Business premises. According to the provisions of Article 162 of the Insurance Law of the People's Republic of China, the Shangluo Supervision Branch of the China Banking and Insurance Regulatory Commission imposed a fine of 40,000 yuan on him.

The administrative penalty information disclosure form of the Shangluo Supervision Bureau of the China Banking and Insurance Regulatory Commission (Chinese Banking and Insurance Regulatory Commission [2020] No. 5) shows that the legal representative (principal person in charge) Jiang Shicheng has violated the banking and insurance supervision and management of China Life Shangnan Branch. The organization shall be directly responsible for the unauthorized change of business premises of the Nanjie Marketing Service Department under its jurisdiction. In accordance with Article 171 of the Insurance Law of the People's Republic of China, the Shangluo Supervision Bureau of the China Banking and Insurance Regulatory Commission issued a warning and a fine of 10,000 yuan.

China Life Insurance Co., Ltd. (ChinaLife) was established on October 20, 1949 and is headquartered in Beijing. China Life Insurance Co., Ltd. and its subsidiaries constitute the largest life insurance group in China, one of the domestic insurance groups with assets exceeding RMB 1 trillion, and one of the largest institutional investors in China's capital market.

On April 20, 2015, the Shaanxi Insurance Regulatory Bureau announced the approval of the qualifications of Jiang Shicheng and others (Shaanxi Insurance Regulatory Commission Permit [2015] No. 199), which showed that China Life Insurance Co., Ltd. Shaanxi Branch's "Request for Instructions on the Examination of Jiang Shicheng's Qualifications" ” (China Life Insurance Shaanfa [2015] No. 81), “Request for Instructions on Li Yan’s Qualification Review” (China Life Insurance Shaanfa [2015] No. 82), “Request for Instructions on Chen Xiaofeng’s Qualification Review” (China Life Insurance Shaanfa [2015] No. 82) Shaanfa [2015] No. 84), "Request for Instructions on the Examination of Guan Xidun's Qualifications" (China Life Insurance Shaanfa [2015] No. 85), "Request for Instructions on the Examination of Wang Yiping's Qualifications" (China Life Insurance Shaanfa [2015] ), "Request for Instructions on the Review of Shu Bo's Qualifications" (China Life Insurance Shaanfa [2015] No. 87), "Request for Instructions on the Review of Song Zhuxiao's Qualifications" (China Life Insurance Shaanfa [2015] No. 88 ), "Request for Instructions on Lei Tao's Qualification Examination" (China Life Insurance Shaanfa [2015] No. 89) has been received. After review, Jiang Shicheng, Li Yan, Chen Xiaofeng, Guan Xidun, Wang Yiping, Shu Bo, Song Zhuxiao, and Lei Tao met the "Regulations on the Qualification Management of Directors, Supervisors and Senior Managers of Insurance Companies" (CIRC Order [2014] 1 No.), approve the qualifications of Guan Xitun, Wang Yiping, and Shu Bo as branch managers of China Life Insurance Co., Ltd., and approve the qualifications of branch managers of China Life Insurance Co., Ltd. Jiang Shicheng, Li Yan, Chen Xiaofeng, Song Zhuxiao, and Leitao Qualifications for deputy manager (in charge of work). China Life Shaanxi Branch shall report to the Shaanxi Insurance Regulatory Bureau within 10 days from the date of making the appointment decision. If he is not appointed within 2 months from the date of receipt of this approval, his qualifications will automatically expire.

Article 162 of the Insurance Law of the People's Republic of China stipulates: If an insurance company violates the provisions of Article 84 of this Law, the insurance regulatory agency shall order it to make corrections and impose a fine of not less than RMB 10,000 but not more than RMB 100,000.

Article 171 of the Insurance Law of the People's Republic of China stipulates: If an insurance company, insurance asset management company, professional insurance agency, or insurance broker violates the provisions of this Law, the insurance regulatory agency shall, in addition to violating Article 171 of this Law respectively, In addition to the punishment imposed on the unit in accordance with the provisions of Articles 160 to 170, the directly responsible person in charge and other directly responsible personnel shall be given a warning and a fine of not less than RMB 10,000 but not more than RMB 100,000 shall be imposed; In serious cases, the qualification will be revoked.

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