China Life Insurance’s Chairman Faces Probe by Anti-Graft Watchdog
(Bloomberg) -- China Life Insurance Co. Ltd. said operations and management are carrying on as normal amid a probe of its Chairman Wang Bin by the country’s top anti-graft watchdog.
The company will hold a board meeting in the near future to decide on an acting chairman, it said in a filing to Shanghai Stock Exchange on Sunday.
Wang Bin is “suspected of serious violations of discipline and law, and is currently undergoing disciplinary review and investigation,” the China Central Commission for Discipline Inspection said in a statement on Saturday, without disclosing more details.
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