For multiple violations including fabricating false financial documents, Ruizhong Life Shandong Branch was fined 980,000 yuan.

LightningPacketLoss · 2026-03-28T14:47:22+00:00

On March 24, the Shandong Regulatory Bureau of the China Banking and Insurance Regulatory Commission disclosed administrative penalty information indicating that Ruizhong Life Insurance Co., Ltd. Shandong Branch was fined for the following major violations: preparing false financial documents, failing to use the approved accident insurance rates as required, providing benefits beyond those stipulated in the insurance contracts, and non-compliant training materials. The branch was issued a warning and 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, then 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)

LightningPacketLoss

2026-03-28 14:47:22

On March 24, the administrative penalty information disclosed by the Shandong Regulatory Bureau of the National Financial Supervisory Administration showed that Shandong Branch of Ruizhong Life Insurance Co., Ltd. was penalized for the following major illegal activities: preparing false financial information, failing to use the filed accident insurance rates as required, providing benefits outside of the insurance contract agreement, and non-compliant training materials, receiving a warning and a fine of 980,000 yuan.

At the same time, the then Deputy General Manager of Ruizhong Life Shandong Company, Sun Mei, received a warning and a fine of 70,000 yuan, the then Deputy General Manager Zhang Jianping received a warning and a fine of 50,000 yuan, the then Deputy General Manager Sun Liang, and the then Deputy Manager of the Bank Insurance Management Office Liu Jian both received a warning and a fine of 40,000 yuan, and the then Manager of the Operations Management Office/Consumer Rights Protection Office Song Junmin received a warning and a fine of 10,000 yuan.

(National Financial Supervisory Administration)

(Editor: Qian Xiaorui)

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