Financial news from the front lines on 10/13, according to the administrative penalty information disclosure table of the Yunnan Financial Regulatory Bureau, Ancheng Property & Casualty Insurance Company Limited, Yunnan Branch was fined 70 million yuan for preparing false financial materials and failing to use insured rates as filed. At the same time, Li Zhong received a warning and was fined; Zhang Wei received a warning and was fined; Luo Zengxiang received a warning and was fined; Qiu Yangtian received a warning and was fined, with a total fine of 23 million yuan for all four individuals.
Fine details:
No. Party Name Major Violations Administrative Penalty Decision-Making Authority 1 Ancheng Property Insurance Co., Ltd. Yunnan Branch and Relevant Responsible Persons Prepared false financial documents; failed to use insurance premium rates as filed. Fined Ancheng Property Insurance Co., Ltd. Yunnan Branch 70 ten-thousand yuan; issued warnings and imposed a total fine of 23 ten-thousand yuan on Li Zhong, Zhang Wei, Luo Zengxiang, and Qiu Yangtian. Yunnan Financial Regulatory Bureau
