Rui Zhong Life Insurance Shandong Branch Fined 980,000 Yuan for Multiple Violations Including Fabricating False Financial Records

LightningPacketLoss · 2026-03-24T20:54:36+00:00

Ruizhong Life Insurance Shandong Branch was fined 980,000 yuan for preparing false financial documents and engaging in other illegal activities, and the responsible persons involved were also given warnings and penalties.

LightningPacketLoss

2026-03-24 20:54:36

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On March 24, the Shandong Regulatory Bureau of the China Banking and Insurance Regulatory Commission disclosed administrative penalty information showing that Ruizhong Life Insurance Co., Ltd. Shandong Branch was fined and warned for the following major violations: preparing false financial documents, not using the approved accident insurance rates as required, providing benefits beyond the contractual agreement, and non-compliant training materials. The branch was fined 980,000 yuan.

At the same time, Sun Mei, then Deputy General Manager of Ruizhong Life Insurance Shandong, was warned and fined 70,000 yuan; Zhang Jianping, then Deputy General Manager, was warned and fined 50,000 yuan; Sun Liang, then Deputy General Manager, and Liu Jian, Deputy Manager of the Banking and Insurance Management Department, were warned and fined 40,000 yuan each; Song Junmin, then Manager of the Operations Management Department/Consumer Rights Protection Department, was warned and fined 10,000 yuan.

(China Banking and Insurance Regulatory Commission)

(Editor: Qian Xiaorui)

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