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China Life Insurance Ledou Branch and 2 Responsible Persons Fined a Total of 810,000 Yuan
Radar Finance Text | Yang Yang Edited | Li Yihui
On March 13, the Haidong Financial Regulatory Bureau disclosed an administrative penalty notice (Dongjin Penalty Decision [2026] No. 1), showing that China Life Insurance Co., Ltd. Ledou Branch was ordered to correct its conduct for inducing sales and fined 55,000 yuan.
Dongjin Penalty Decision [2026] No. 1 states that, for inducing sales, Li Shouqiang (then Manager of China Life Insurance Co., Ltd. Ledou Branch) was given a warning and fined 20,000 yuan; Xu Shanglan (then an agent of China Life Insurance Co., Ltd. Ledou Branch) was given a warning and fined 6,000 yuan.
Tianyancha data shows that China Life Insurance Co., Ltd. Ledou Branch was established on March 30, 1987, with its registered address at No. 15 Xiguan Street, Nianbo Town, Ledou District, Haidong City, Qinghai Province (Shixiang Building, First Floor 1011, Second Floor 1021, 1022, Fifth Floor 1051-1057). Its business scope includes: Permitted items: insurance business; insurance agency business (projects that require approval by law can only be operated after approval by relevant departments; specific business items are subject to approval results). General items: conducting exclusive insurance agency business within the scope authorized by the insurance company (operating with authorization) (excluding projects that require approval by law, operating independently with a business license). (Engaging in business activities within the scope of the head office).
In terms of risks, Tianyancha statistics show that the company has 2 internal risks, 1,008 surrounding risks, 19 historical risks, and 13 warning alerts.