Jul 09, 2024 07:39 PM
FINANCE
Another Taiping Life Executive Caught Up in China’s Crackdown on Graft
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Ni Bo
A deputy general manager of Taiping Life Insurance Co. Ltd. has been put under investigation by China’s top graft-buster, joining a growing list of executives who have been ensnared in the country’s crackdown on corruption in the finance sector.
Ni Bo, 52, is being investigated for suspected serious violations of law and Communist Party discipline — a common euphemism for corruption, the Central Commission for Discipline Inspection (CCDI) announced Tuesday.
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- Ni Bo, deputy GM of Taiping Life Insurance, is under investigation for suspected legal and Party discipline violations.
- The probe is part of a broader anti-corruption campaign by the CCDI, which includes several executives from China Taiping Insurance.
- Notable figures like Wang Bin and Zhang Ke have been previously convicted or dismissed for corruption-related offenses in this ongoing crackdown.
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Who’s Who
- Taiping Life Insurance Co. Ltd.
- Taiping Life Insurance Co. Ltd., a subsidiary of the state-owned China Taiping Insurance Group Ltd., has recently been the focus of anti-corruption investigations by China's Central Commission for Discipline Inspection (CCDI). High-ranking executives, including Deputy General Manager Ni Bo, have been implicated in these probes. The investigations are part of a broader crackdown on corruption within China's finance sector.
- China Taiping Insurance Group Ltd.
- China Taiping Insurance Group Ltd. is a state-owned insurance group in China currently under inspection by the Central Commission for Discipline Inspection (CCDI). The inspection, which started in April and is expected to last about three months, is part of China's broader crackdown on corruption in the finance sector. Several executives from the group and its subsidiaries, including former chairman Wang Bin and former general manager Zhang Ke, have been investigated and penalized for corruption.
- Taikang Life Insurance Co. Ltd.
- Taikang Life Insurance Co. Ltd. is one of China’s leading insurers where Ni Bo, currently under investigation for corruption, has previously worked. Established in the insurance industry, Taikang offers a range of insurance products and has been a key player in China's financial sector. The company is noted for employing professionals with extensive experience in insurance.
- China Life Insurance Co. Ltd.
- China Life Insurance Co. Ltd. is one of China's leading insurers where Ni Bo, currently under investigation for alleged corruption, has prior work experience.
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What Happened When
- 2022：
- Former chairman Wang Bin came under investigation.
- 2023：
- Former deputy general manager Xiao Xing was placed under investigation.
- July 2023：
- Ni Bo became a deputy general manager of Taiping Life.
- February 2024：
- Former General Manager Zhang Ke got the boot from the party for suspected corruption.
- April 2024：
- CCDI started its inspection of China Taiping Insurance Group Ltd.
- Tuesday, July 9, 2024：
- CCDI announced an investigation into Ni Bo for suspected serious violations of law and Communist Party discipline.
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