Exclusive: Regulator Removes Insurer's Chair in Embezzlement Scandal
Exclusive: Regulator Removes Insurer’s Chair in Embezzlement Scandal What’s new: China’s top insurance regulator has removed the chairman and a board member of J.K. Life Insurance Co. Ltd. from their positions in the wake of a fund embezzlement scandal, sources familiar with the issue told Caixin. The China Banking and Insurance Regulatory Commission on Thursday announced the dismissal of the Beijing-based insurer’s Chairman Lu Changqing and board member Chen Yan, the sources said. The regulator may appoint a new chair of the insurer to stabilize operations, they estimated. What’s t...
Source: caixinglobal.com