Controversies

Business license revoked for inflating solvency, illegal use of funds, and other violations

In August 2025, the National Financial Regulatory Administration revoked Huaxia Life Insurance's business license for false and incomplete statements, inaccurate customer information, illegal inflation of solvency, and losses in fund utilization, among other violations. Twenty-three responsible individuals were penalized, with some former senior executives banned from the industry for life.

Beijing telemarketing center fined 50,000 yuan for deceiving policyholders and concealing important information

In September 2024, Huaxia Life Insurance's Beijing telemarketing center was ordered to rectify and fined 50,000 yuan for deceiving policyholders and concealing important information about insurance contracts, with the responsible individuals also penalized.

Huaxia Insurance announces employee entrepreneurship leave policy

Issue disclosure

In April 2020, Huaxia Life Insurance issued an internal notice encouraging eligible management cadres, particularly those aged 45 and above, to take unpaid leave to start businesses for up to three years. The policy drew industry criticism that it amounted to disguised layoffs. The company stated that participation was voluntary and that employees whose businesses failed within three years could return to work.

Huaxia Insurance issued an internal notice encouraging eligible management cadres, particularly those aged 45 and above, to take unpaid leave to start businesses for up to three years. The policy drew industry criticism as disguised layoffs; the company said participation was voluntary and employees whose businesses failed within three years could return to work.