China Life's Wenshui Branch Fined for Losing License Due to Poor Management

Deep News06-29 20:30

The Wenshui branch of China Life Insurance Company Limited has been penalized for losing its license as a result of inadequate administrative controls.

According to a penalty disclosure from the Lvliang regulatory office under the National Financial Regulatory Administration, the branch was ordered to rectify the issue, received a formal warning, and was fined 10,000 yuan.

The regulatory action was taken because the branch's poor management led to the loss of its operating license, a violation stipulated under Articles 15 and 18 of the 'Administrative Measures for Licenses of Banking and Insurance Institutions'.

The official penalty decision, numbered Lv Jin Guan Fa Jue Zi [2026] No. 17, was issued by the National Financial Regulatory Administration Lvliang Office on June 18, 2026.

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20:30</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>The Wenshui branch of <b>China Life Insurance Company Limited</b> has been penalized for losing its license as a result of inadequate administrative controls.<br><br>According to a penalty disclosure from the Lvliang regulatory office under the National Financial Regulatory Administration, the branch was ordered to rectify the issue, received a formal warning, and was fined 10,000 yuan.<br><br>The regulatory action was taken because the branch's poor management led to the loss of its operating license, a violation stipulated under Articles 15 and 18 of the 'Administrative Measures for Licenses of Banking and Insurance Institutions'.<br><br>The official penalty decision, numbered Lv Jin Guan Fa Jue Zi [2026] No. 17, was issued by the National Financial Regulatory Administration Lvliang Office on June 18, 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