PICC P&C and its branches were fined 11.15 million, with 27 responsible persons receiving penalties together

The fines disclosed by the National Financial Regulatory Administration show that China People's Property Insurance Company Limited and related responsible persons were fined for not using the approved or filed car insurance, agricultural insurance, and guarantee insurance terms and rates as required, for providing false and inaccurate reports and documents, and for failing to handle reinsurance business as stipulated. The fine shows that the Financial Regulatory Administration fined the head office of PICC P&C 4.3 million yuan and fined its branches 6.85 million yuan. In implementing the double penalty system, the Financial Regulatory Administration warned and fined responsible personnel including Yuan Hui, Zhang Haibo, Wang Shuguang, Song Ke, Meng Xiaojun, Liu Zhiyuan, Jin Mingzhu, Wang Tianjun, Shao Yunzhu, Hua Shan, Wei Min'an, He Lei, Bai Hongxu, Bi Xin, Cao Fei, Wang Yanhui, Lin Meiqiong, Xiong Yujun, Xu Wenkai, Su Xiaoyan, Li Zhiheng, Shao Xuri, Xu Hong, Zhang Lizhi, Sun Yimin, Wang Jianqiang, Chen Yanguo a total of 1.84 million yuan