吊销业务许可证！这家险企+23人被罚

Core Viewpoint - The article discusses the revocation of business licenses for multiple insurance companies under the "Mingtian System" due to violations and illegal activities, highlighting the regulatory crackdown on these institutions [1][2][4]. Summary by Sections Regulatory Actions - On August 1, the National Financial Supervision Administration announced administrative penalties against Huaxia Life Insurance Co., Ltd. and related personnel, marking a significant enforcement action against the Mingtian System insurance institutions [2][4]. - A total of five insurance institutions have been penalized, with specific violations including improper fund usage, false reporting, and significant financial losses [3][4]. Violations and Penalties - Huaxia Life was found to have inflated solvency, misused funds, and provided false information in reports, leading to the revocation of its business license [4][5]. - The penalties for Huaxia Life included warnings, fines totaling 2.32 million yuan, and disqualification of 23 responsible personnel from the insurance industry [5]. Asset Transfer - The liabilities and assets of Huaxia Life have been transferred to a newly established company, Ruizhong Life Insurance Co., Ltd., which has a registered capital of 56.5 billion yuan, significantly higher than Huaxia Life's previous capital [6]. - The transfer agreement includes all business, assets, rights, and personnel as of December 31, 2022, ensuring continuity in fulfilling insurance contract obligations [6].