On September 12, 2023, the Intermediate People's Court of Jinan City, Shandong Province, publicly pronounced a verdict on the case of Wang Bin**, former party secretary and chairman of Chinese Life Insurance (Group) Company, for concealing overseas deposits, and sentenced the defendant Wang Bin to death for ** crimes, with a two-year reprieve, deprivation of political rights for life, and confiscation of all personal property, and after the expiration of the two-year suspension of his death sentence, he was sentenced to life imprisonment without commutation or parole, and sentenced to one year in prison for the crime of concealing overseas deposits, and decided to carry out the death penalty. The sentence shall be suspended for two years, deprivation of political rights for life, and confiscation of all personal property.
During his tenure as secretary of the party committee and chairman of the board of directors of Chinese Life Insurance (Group) Company, Wang Bin took advantage of his position to seek benefits for others and illegally accepted other people's property, the amount of which was particularly huge; At the same time, he also concealed and failed to report overseas deposits, which amounted to a large amount. These acts have seriously violated national laws, regulations and professional ethics, and seriously harmed the interests of the state and the people.
This verdict is a severe punishment for Wang Bin's illegal acts, and it also reflects China's firm determination and zero-tolerance attitude in the fight against corruption. At the same time, it also warns the majority of party members and cadres to keep a clear head at all times, keep in mind the party's purpose and mission, strictly abide by party discipline and state law, and be honest and self-disciplined, enforce the law fairly, and serve the people diligently.
Chinese Life Insurance (Group) Company is one of the leading enterprises in China's insurance industry, and this incident has also had a serious impact on the company's image and reputation. The company should deeply reflect, strengthen internal management, improve the risk prevention and control mechanism, and ensure the healthy and stable development of the company. At the same time, industry self-discipline and supervision should also be strengthened to promote the healthy and orderly development of the insurance industry.