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.
