天安财险、天安人寿被吊销业务许可证，多名原高管终身禁业

Core Viewpoint - Tianan Insurance and Tianan Life have been officially penalized with the revocation of their business licenses due to serious violations, marking the end of their operations after being taken over by the former CBIRC in July 2020 [1][2]. Summary by Sections Violations and Penalties - Tianan Life and Tianan Insurance faced severe administrative penalties for issues including false governance reports, unauthorized executive appointments, and improper benefits to related parties [1]. - Specific violations for Tianan Insurance included failure to use approved insurance terms and rates, and providing false reports to regulators. Tianan Life was found to have false statements in board reports and mismanagement of compensation reports [1]. - Seven former executives from both companies received lifetime bans from the insurance industry due to their involvement in these violations [1][2]. Related Institutions - Other institutions under regulatory scrutiny, such as Huaxia Life and Yian Insurance, also faced significant penalties. Yian Insurance's 13 responsible personnel were fined 1.71 million yuan for misusing funds and engaging unqualified intermediaries for insurance sales [2]. - Huaxia Life's asset management company was penalized for false reporting and significant financial losses, resulting in warnings and fines for 25 individuals, with five receiving lifetime bans [2]. Risk Management and Transition - Risk management plans for the affected insurance companies have been implemented. Zhonghui Life took over Tianan Life's liabilities and assets, while Sheneng Insurance acquired Tianan Insurance's business [3]. - Huaxia Life's assets were transferred to Ruizhong Life, which also acquired a 99% stake in Huaxia Jiuying. Yian Insurance entered bankruptcy restructuring and was ultimately acquired by BYD, transforming into BYD Insurance [3].