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.

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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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