TAG / Enforcement Actions

Regulatory Penalties

2026-10-209608

Yu Xiaoping, former member of the Party Committee and Vice President of PICC, was expelled from the Party for serious violations of discipline and law.

The Central Commission for Discipline Inspection and the National Supervisory Commission announced that Yu Xiaoping, former Vice President of PICC, has been expelled from the Party for serious violations of discipline and law. He is suspected of accepting bribes and abusing his power, causing significant losses to national interests. Illicit gains were confiscated, and the case has been transferred to the procuratorial authorities for review and prosecution.

Regulatory Penalties Official Announcement

Central Commission for Discipline Inspection of the CPC and National Supervisory Commission2026-10-20

2026-10-209332

Yongcheng Property & Casualty Insurance Co., Ltd. received total fines of 61 million yuan across two regions; its health and accident insurance segment reported losses exceeding 100 million yuan in the first half of the year.

Yongcheng Property & Casualty Insurance was fined a total of 61 million yuan in Shanghai and Shenzhen for false data and underwriting management violations. Its branches in multiple regions had previously been penalized as well. Although revenue and net profit both increased in the first half of the year, its health and accident insurance business still posted losses exceeding 100 million yuan, while facing challenges such as shareholder equity transfers.

Regulatory Penalties Property and casualty insurance company

Sina Finance2026-10-20

2026-10-198401

Misuse of policy terms and rates: Zhongyi Property & Casualty Insurance Shanghai Branch and the responsible parties fined a total of 47 ten-thousand yuan.

Zhongyi Property & Casualty Insurance Company's Shanghai Branch was fined 40 million yuan for failing to use filed rates and premiums as required, while the responsible individual was fined 7 million yuan. Previously, its Sichuan Branch was penalized for financial fraud. Combined, the total fines amount to 91 million yuan. The company's net profit in the first half of the year dropped significantly year over year.

Regulatory Penalties Property and casualty insurance company

Cai Zhong She2026-10-19

2026-10-193478

Not only did they lose money, but they also got fined! An insurance asset management researcher's four-year "rat trading" scheme ended in losses and a 50 million penalty.

The Shanghai Local Bureau of the China Securities Regulatory Commission (CSRC) penalized Yun, an investment research analyst at a certain insurance asset management firm, for engaging in "rat trading" using non-public information. Although the convergent trades ultimately resulted in losses, Yun was ordered to dispose of illegally held securities and fined 50 million yuan. The case highlights the risk that research analysts in some smaller institutions may improperly participate in investment decision-making.

Regulatory Penalties Insurance Fund Utilization

Blue Whale Finance - Official Account2026-10-19

2026-10-195308

Massive Loss! Female Researcher Fined $50K for "Rat Trading"

The Shanghai Bureau of the China Securities Regulatory Commission (CSRC) fined Yun, a researcher at an insurance asset management company, 50 yuan for trading on undisclosed information. Despite incurring losses from similar trades and generating no illegal gains, the conduct was deemed unlawful. This case underscores regulators' focus on substantive authority to define insiders, breaking through traditional blind spots in role-based firewalls, and serves as a warning for the industry to strengthen compliance and risk controls.

Regulatory Penalties Insurance Fund Utilization

Sina Finance2026-10-19

2026-10-198728

Free insurance or a "get-rich-quick" scam? Five-member gang convicted for fabricating 231 policies to steal $10,000 in commissions

A five-person insurance sales team in Wuxi exploited high-commission incentives, fabricating 231 policies under the guise of free coverage to illegally collect over ¥35 in commissions. The court sentenced all five individuals to prison terms and imposed fines for embezzlement, exposing critical flaws in the insurer's performance verification system.

Regulatory Penalties Insurance Sales

Sina Insurance News2026-10-19

2026-10-194723

Fictitious insurance intermediary business: Lifelong ban imposed on responsible persons at PICC Property and Casualty Company's Zhongshan Branch in Dalian

The National Financial Regulatory Administration's Dalian Bureau announced disciplinary actions. Zhu Yan, former Deputy General Manager of PICC Property and Casualty Company Limited's Zhongshan Branch in Dalian, was banned from entering the insurance industry for life due to fabricating insurance intermediary business.

Regulatory Penalties Property and casualty insurance company

Sina Finance2026-10-19

2026-10-198093

Commission incentives turned into arbitrage tools: fake insurance policies case sounds alarm on industry internal controls

Wuxi, Jiangsu, concluded a case involving an insurance team fabricating policies to extract commissions. 5 individuals were convicted of occupational embezzlement due to aggressive front-loaded incentives that created arbitrage opportunities. The case exposed internal control weaknesses within the industry. Prosecutors urged insurers to reconstruct commission mechanisms and strengthen risk controls, highlighting the need to balance growth with quality.

Insurance Sales Regulatory Penalties

Manager Magazine "Manager Magazine" Official Account2026-10-19

2026-10-199977

Pitying a divorced salesperson with children, a Shanghai woman in her sixties bought insurance to support her and even handed over her phone for payment. However, 5 years later, over 200 ten thousand yuan was transferred away. The court has ruled.

Shanghai Xuhui Court ruled on an elderly fraud case in which insurance agent Yang, exploiting the trust of a senior citizen, defrauded them of over 200 million yuan under the pretext of paying premiums on their behalf. Yang was sentenced to 11 years and 9 months for fraud, plus a fine. The case serves as a warning: seniors should not hand over their mobile phones or payment permissions to others and must remain vigilant against crimes committed by acquaintances.

Consumer Rights Regulatory Penalties

Nanjing Morning Post Official Account2026-10-19