Evergrande Life Insurance's three chairmen and 20 senior executives were penalized: involved in the use of insurance funds, interest transfer, and other issues

The fines disclosed by the National Financial Regulatory Administration show that 20 relevant responsible personnel of Evergrande Life Insurance Co., Ltd. have been penalized. Regarding the reasons for the penalties, the fines indicate that the responsible personnel of Evergrande Life Insurance have engaged in serious non-compliance in the use of insurance funds, provided benefits to related parties, violated post-investment management regulations, and submitted reports with false records and other illegal activities