Hot News

In the first five months, national agricultural insurance has paid out 37 billion yuan.

In response to recent extreme weather, insurance institutions in Hebei have compensated for 19,400 cases, with claims amounting to 82 million yuan.

Disciplinary Dynamics

The former general manager of China Postal Life Insurance, Dang Junzhang, was sentenced to 12 years in prison in the first instance for accepting bribes of 7.98 million yuan.

Administrative Penalties

Haiyun Insurance Agency has been placed under investigation.

China Pacific Insurance's Shangluo branch and related responsible persons were fined 120,000 yuan for failing to implement approved or filed insurance rates.

Personnel Changes

Yongcheng Asset's two executives received approval for their qualifications on the same day, with the Chief Risk Officer and Chief Compliance Officer taking their positions.

Institutional Dynamics

China Life acquired the Z10 plot in the core area of Beijing's Chaoyang District at a base price of 2.993 billion yuan.

China Taiping launched its first batch of cross-border RMB settlement reinsurance business in Indonesia.

Strong collaboration! Three major Shandong institutions of China Life have reached a comprehensive strategic cooperation with Shandong Postal.

Four companies under Taikang Insurance jointly invested 2 billion to establish an equity investment partnership.

PICC P&C has launched two new low-altitude economy products.

Meixin Health has launched an AI operating system for health insurance.

Hot News

In the first five months, national agricultural insurance has paid out 37 billion yuan.

According to the Financial Regulatory Bureau, from January to May 2026, national agricultural insurance has paid out 37 billion yuan, benefiting 12.09 million farming households. Crop insurance has paid out 6.047 billion yuan, benefiting 5.4631 million farming households, of which wheat has paid out 3.093 billion yuan, benefiting 3.4342 million farming households. Agricultural insurance compensation has played an important role in helping disaster-stricken farmers resume production.

In response to recent extreme weather, insurance institutions in Hebei have compensated for 19,400 cases, with claims amounting to 82 million yuan.

On June 24, the Hebei Financial Regulatory Bureau issued a statement urging insurance institutions to open green channels and expedite damage assessment in response to recent heavy rain and hail. A notice was issued to assess the situation and provide work prompts, improve emergency plans for extreme weather, establish a disaster reporting mechanism, and ensure service support. As of June 15, Hebei has received 56,600 claims, with estimated losses of 692 million yuan, and has compensated for 19,400 cases, with claims amounting to 82 million yuan.

Disciplinary Dynamics

The former general manager of China Postal Life Insurance, Dang Junzhang, was sentenced to 12 years in prison in the first instance for accepting bribes of 7.98 million yuan.

According to Guandian.com, on June 25, it was reported that the Intermediate People's Court of Yangzhou City, Jiangsu Province, recently made a first-instance judgment on the bribery case of Dang Junzhang, the former general manager of China Postal Life Insurance, sentencing him to 12 years in prison and imposing a fine of 1 million yuan. The court found that Dang Junzhang, as a state worker, took advantage of his position at Postal Savings Bank and China Postal Life Insurance to illegally accept a total of 7.98 million yuan in property from others, of which 240,000 yuan was not actually obtained, and the amount of bribery was particularly large. Information shows that Dang Junzhang denied all charges in the first instance and has appealed Administrative Penalty

Not paying regulatory fees and not purchasing professional liability insurance? Haiyun Insurance Agency is under investigation

On June 23, the Shenzhen Financial Regulatory Bureau issued an administrative penalty investigation notice, officially launching an investigation into Haiyun Insurance Agency (Shenzhen) Co., Ltd. (hereinafter referred to as "Haiyun Insurance Agency") due to multiple violations and its uncontactable status. According to the announcement, Haiyun Insurance Agency has two clear violations: first, it failed to pay the regulatory fees for insurance professional intermediary institutions for the year 2023 as required; second, it did not report the deposit status of the guarantee fund to the regulatory authorities as required, nor did it purchase professional liability insurance as stipulated.

The deposit of guarantee funds and the purchase of professional liability insurance by insurance intermediary institutions are mandatory regulatory requirements aimed at protecting consumer rights. In the event of operational errors, illegal claims, bankruptcy, or loss of contact, consumers can be compensated for their losses through the guarantee fund or professional liability insurance, which is an essential risk mitigation mechanism in the industry that all legitimate insurance intermediary companies must implement. Regulatory fees are industry supervision fees that compliant enterprises must pay as required, forming the basis for accepting supervision and legal operation.

It is noteworthy that the Shenzhen Financial Regulatory Bureau has stated that it can no longer contact Haiyun Insurance Agency through other means. Therefore, the bureau has adopted the method of public announcement to deliver the penalty investigation notice to the company. The announcement clearly requires Haiyun Insurance Agency to submit complete proof materials, such as guarantee fund deposit certificates or professional liability insurance policy documents for the period from 2023 to 2025, to the Shenzhen Financial Regulatory Bureau by July 24, 2026, and to actively cooperate with regulatory inspections, truthfully explain its operational and compliance status, and provide all relevant documents.

The regulatory authorities have clearly informed the relevant legal consequences: if the company fails to respond, submit materials, or refuses to cooperate with the inspection by the deadline, it will be directly deemed as obstructing the financial regulatory authorities from conducting supervision and inspection according to the law, and the company and relevant responsible persons will bear corresponding administrative penalties and industry sanctions under the law.

China Pacific Insurance Shangluo Branch and relevant responsible persons fined a total of 120,000 yuan for not executing approved or filed insurance rates

On June 24, the Shaanxi Financial Regulatory Bureau released administrative penalty information, stating that China Pacific Insurance Shangluo Branch was fined 110,000 yuan for failing to execute approved or filed insurance rates, and relevant responsible persons were warned and fined 10,000 yuan.

Personnel Changes

Two executives of Yongcheng Asset received approval for their positions on the same day, Chief Risk Officer and Chief Compliance Officer appointed

On June 24, the Ningbo Financial Regulatory Bureau released two pieces of administrative licensing information, announcing that the qualifications of two executives of Yongcheng Asset Management Co., Ltd. (referred to as "Yongcheng Asset") were approved on the same day. Zhang Fengwei was approved to serve as the Chief Risk Officer of Yongcheng Asset, and Chen Lan was approved to serve as the Chief Compliance Officer of Yongcheng Asset.

According to the official website's resume, Zhang Fengwei previously served as the compliance head of Yongcheng Asset while also managing the risk management department and legal compliance department. He has held positions such as risk manager in the risk management department of Bank of China Changzhou Branch, dedicated approver (director level) at the East China Credit Approval Center of Guangfa Bank, manager of the investment risk control department at Ping An Pension Insurance, and deputy director of the alternative investment risk control department at Taiping Pension Insurance Deputy Manager (in charge of work), Manager, and other positions in the Risk Management and Compliance Department of Yongcheng Asset.

Chen Lan previously served as the Trainee Director of the Operations Center at Nanyang Commercial Bank, and later accumulated years of auditing experience in the Audit and Supervision Department of Ping An Group. After joining Yongcheng Asset, she successively held the positions of Assistant Manager (in charge of work) in the Audit Department, Deputy Manager (in charge of work), and is currently the Audit Responsible Person, Board Secretary, and Manager of the Audit Department at Yongcheng Asset.

Yongcheng Asset was wholly initiated by Yongcheng Property Insurance, with a registered capital of 300 million yuan. The company was approved to be established by the China Banking and Insurance Regulatory Commission in April 2016 and officially opened in August 2017. It is the 24th comprehensive insurance asset management company in China and the first insurance asset management company within the "Ningbo National Insurance Innovation Comprehensive Pilot Zone."

Institution Dynamics

China Life Acquires Beijing Chaoyang District CBD Core Area Z10 Plot at a Reserve Price of 2.993 Billion Yuan

According to Guandian.com, on June 25, the commercial land Z10 in the core area of Beijing's Chaoyang District CBD was sold, with Beijing Jinting Real Estate Co., Ltd. acquiring it at a reserve price of 2.993 billion yuan. The actual controller of this company is China Life.

Information shows that the planned construction area of this plot is 120,000 square meters, with a floor area ratio of 14.90 and a height limit of 125 meters. All above-ground and underground construction scale must be retained until the maximum transfer period. This plot was previously acquired by a consortium including Peking University Founder in 2011 but was returned and re-listed with modified parameters in May 2026. The plot is adjacent to the extended line of East Chang'an Street, within walking distance to Metro Lines 1, 10, and 14, and there are plans to construct Beijing Metro Line 28 nearby to alleviate the operational pressure of the eastern urban area.

China Taiping Launches First Batch of Cross-Border RMB Settlement Reinsurance Business in Indonesia

Recently, Taiping Indonesia, a subsidiary of China Taiping, collaborated with the Jakarta branch of Bank of China to successfully launch the first batch of cross-border RMB settlement reinsurance business in the Indonesian market—four reinsurance premiums for the Indonesia Guangqing Nickel-Cobalt Engineering Insurance Project were paid in RMB across borders. This business represents a positive exploration of RMB internationalization in real economic scenarios, helping to enrich cross-border RMB application scenarios and providing more diversified financial service options for Chinese enterprises operating overseas.

Strong Partnership! China Life's Three Major Shandong Institutions Reach Comprehensive Strategic Cooperation with Shandong Postal Service

On June 23, the Shandong Provincial Branch of China Life's life insurance, property insurance, and pension insurance signed a strategic cooperation agreement with the Shandong Provincial Branch of China Post Group in Jinan, marking the beginning of deep cooperation among the four parties.

According to the agreement, this cooperation will focus on the core principles of "resource sharing, value co-creation, and win-win cooperation," connecting core sectors such as insurance protection, logistics delivery, and customer resources. Among them, the three major lines of China Life have clear divisions of labor and precise empowerment: the life insurance Shandong Provincial Branch will focus on upgrading personal customer rights and corporate employee welfare protection services, filling gaps in people's financial service scenarios; the property insurance Shandong Provincial Branch will focus on core businesses such as auto insurance and corporate property insurance, providing comprehensive property safety protection for the postal system and a wide range of customers; the pension insurance Shandong Provincial Branch will specifically address the exclusive needs of postal enterprise employees' pension protection and corporate annuities, improving the employee welfare system of enterprises The Shandong Provincial Branch of China Post leverages its core advantages of having numerous offline outlets, covering urban and rural areas, and a well-established logistics and delivery system to provide offline channel support, logistics delivery services, and empower comprehensive financial scenarios for cooperation. In the future, the four parties will continue to deepen multi-scenario collaborative cooperation, relying on their respective resource advantages to cultivate the local market in Shandong, creating a benchmark cooperation model that integrates financial insurance and livelihood services.

Four companies under Taikang Insurance jointly invest 2 billion to establish an equity investment partnership

According to Tianyancha, recently, Wuxi Taikang Jiafeng Equity Investment Partnership (Limited Partnership) was established, with a total investment amount of 2.001 billion yuan, focusing on equity investment. This partnership is jointly funded by four companies under Taikang Insurance, with Taikang Life as the core investor, contributing 1.82 billion yuan; Taikang Pension contributing 150 million yuan; Taikang Online contributing 30 million yuan; and Beijing Taikang Investment Management Co., Ltd. contributing 1 million yuan, serving as the executive partner.

PICC launches two new low-altitude economy products

On June 23, at the "China People's Insurance Supporting the Development of Emerging Pillar Industries Forum and New Product Launch Conference," PICC officially released the "PICC Drone Liability Risk Pricing Model" as well as two innovative products: "Drone Performance Third-Party Liability Insurance" and "Low-Altitude Aircraft Research and Test Flight Loss Compensation Insurance," completing the signing ceremony for the first policy of the new products, continuing to lead the professional track of low-altitude economic insurance services.

The new products effectively disperse the risks of third-party personal and property losses caused by accidents during drone performances, as well as the damage risks of low-altitude aircraft during research and test flights due to design, manufacturing, or installation errors, casting and raw material defects, precisely aligning with the actual protection needs of the industry.

Meixin Health launches health insurance AI operating system

Recently, Meixin Health's AI and data intelligence company, Meishuju Technology, officially launched the health insurance AI operating system—InsRx HealthIns AI OS, aimed at the insurance industry. Designed specifically for insurance companies, InsRx serves as the "smart driving" for health insurance operations, using AI capabilities as its engine, deeply integrating Meixin Health's years of accumulated pharmaceutical insurance data resources and industry knowledge graph, helping insurance institutions achieve intelligent upgrades from data insights to operational decisions. This system is positioned as a professional AI operating system in the health insurance operating scenario, relying on Meixin Health's long-term accumulation of real-world claims data, drug circulation data, innovative drug catalog data, and insurance product liability database, constructing a professional knowledge system covering the insurance and pharmaceutical fields.

Keywords: insurance dinner, China Post Life, Haiyun Insurance Agency