Because of deceiving policyholders, insured persons, or beneficiaries, Taiping Life Insurance Zhengzhou Branch was fined more than one million.

On July 4th, the Henan Banking and Insurance Regulatory Bureau of the China Banking and Insurance Regulatory Commission announced administrative penalties, showing that China Pacific Life Insurance Co., Ltd. Zhengzhou Branch was fined 1.1 million yuan for preparing or providing false reports, statements, documents, or data; deceiving policyholders, insured persons, or beneficiaries; and failing to use approved or recorded insurance terms. Guan Jingming, assistant general manager of China Pacific Life Insurance Co., Ltd. Zhengzhou Branch at the time, was warned and fined 50,000 yuan; Chen Tingting, assistant general manager of China Pacific Life Insurance Co., Ltd. Zhengzhou Branch at the time, was warned and fined 50,000 yuan; Hu Ruiyun, deputy general manager of China Pacific Life Insurance Co., Ltd. Zhengzhou Branch at the time, was warned and fined 80,000 yuan; Ma Hongxun, assistant general manager of China Pacific Life Insurance Co., Ltd. Zhengzhou Branch at the time, was warned and fined 80,000 yuan.