The Shenzhen bureau of the National Financial Regulatory Administration published an administrative penalty notice on Sept. 4 showing Tongfang Global Life Insurance Co. was fined 1.3 million yuan for granting benefits outside contracts, failing to use filed insurance rates, using non‑compliant marketing scripts, and reporting inaccurate business and financial data. Responsible individuals were warned and fined 10,000–80,000 yuan. Tongfang Global Life said it has carried out immediate rectificati

The Shenzhen bureau of the National Financial Regulatory Administration published an administrative penalty notice on Sept. 4 showing Tongfang Global Life Insurance Co. was fined 1.3 million yuan for granting benefits outside contracts, failing to use filed insurance rates, using non‑compliant marketing scripts, and reporting inaccurate business and financial data. Responsible individuals were warned and fined 10,000–80,000 yuan. Tongfang Global Life said it has carried out immediate rectifications, will implement corrective measures item‑by‑item, and does not expect the penalty to have a material impact on overall operations. The company said recent personnel changes are routine and not directly related to the regulatory action and reaffirmed plans to strengthen compliance and internal controls.