China life 1.078 billion yuan illegal funds were investigated

Audit of China Life Insurance (Group) Co., Ltd. 2009 annual balance of income and loss of assets and regulations to investigate and punish the illegal funds 1.078 billion yuan.　　Among them, the management of irregularities in the problem of 698 million yuan, financial revenue and expenditure aspects of the violation of the amount of 380 million yuan.　　In 2010, the audit Office audited the profit and loss of assets and liabilities of the 16 branches of China Life Insurance (group) company and its 5 subsidiaries in 2009. Audit found that there are 698 million yuan in the management of illegal problems. Illegal underwriting or surrender of 242 million yuan. The main is the fragmented customer premiums in the name of the unit insurance, commitment to fixed income or relaxed conditions of underwriting, retirement and other issues.　　such as China Life, Shandong, Anhui, Sichuan, Jiangsu and other 4 regional branches, since 2009 will be charged with the fragmented customer premiums in the name of the unit insured group insurance 27.9017 million yuan. In addition, there is a virtual increase in the premium income of 278 million yuan, the violation of payment and claims 113 million yuan, illegal payment fees and commission of 65.0653 million yuan. This is mainly due to illegal payment of high handling charges, payment of fees to unqualified agents or payment of commissions to formal employees.　　such as the National Longevity Group Chongqing Branch, in 2009 to 144 full-time employees pay commission of 1.5962 million yuan. The audit found that the financial revenue and expenditure violations of the amount of 380 million yuan. Among them, the accounting is not accurate 375 million yuan, set up "Coffer" 5.1117 million yuan.　　In view of the above problems, the Chinese Shou Branch has adjusted the relevant accounting accounts, the payment of tax 18.4613 million yuan, the recovery of funds 262,500 Yuan, 105 related responsible person to be dismissed and other disciplinary measures. The announcement discloses that there are some irregularities in the operation and management of China Life, and the problem of irregular management has been transferred to the CIRC to deal with the irregularities in the financial revenue and expenditure, the audit decision is issued according to law, and the Chinese longevity is advised to hold the relevant personnel accountable.