New China Life Insurance controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2025
Former chairman Li Quan sentenced to death with two-year reprieve at first instance for embezzlement and bribery
On November 19, 2025, the Jinan Intermediate People's Court, at first instance, imposed a combined punishment for multiple crimes in the embezzlement and bribery case of Li Quan, former chairman of New China Life Insurance, and decided to execute the death penalty with a two-year reprieve. The court found that he embezzled more than 108 million yuan and accepted more than 105 million yuan in bribes, involving his positions at New China Asset Management and New China Life Insurance.
2023
Former chairman Wan Feng sentenced to six years and six months at first instance in bribery case
According to reports of a court sentencing on December 27, 2023, Wan Feng, former chairman of New China Life Insurance, was sentenced to six years and six months in prison and a fine of 700,000 yuan for bribery. The court found that he illegally accepted property worth more than 12.09 million yuan.