Blue Whale News, April 10: Recently, the Chongqing branch of the National Financial Regulatory Administration issued a penalty notice targeting China Pacific Life Insurance Co., Ltd., Chongqing Branch and its relevant responsible persons.
The penalty notice shows that the main violations of China Pacific Life Insurance Co., Ltd., Chongqing Branch were: concealing important information related to insurance contracts from policyholders and using group insurance co-insurance business to obtain improper personal benefits.
In response to the above issues, the Chongqing branch of the National Financial Regulatory Administration fined the company 500,000 yuan. The relevant responsible persons, Gong Tianyong, Li Lei, Zhu Mingyao, Bai Jing, and Li Jian, were warned and fined a total of 350,000 yuan.