Controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2021
Xuzhou Central Sub-branch fined 160,000 yuan for inadequate training and internal controls after former agents were involved in insurance fraud cases
In July 2021, the Xuzhou Central Sub-branch of Minsheng Life Insurance was fined 160,000 yuan because its training of practitioners lacked professional ethics and moral conduct education. Crimes committed by several former agents have already been adjudicated by the courts; this entry does not attribute the killing of a wife to the insurance company.
2014
Fined 410,000 yuan over false solvency reports, use of funds, and senior executive qualifications
In July 2014, Minsheng Life Insurance was fined 410,000 yuan for violations including false reports, the use of funds from bond repurchases, senior executive qualifications, and policy follow-up calls; the responsible individuals were penalized separately. This entry consolidates two reports of penalties of the same amount.