A corruption probe is only the latest of Chinese insurers’ woes
About 30% of salespeople have left the industry since 2019
WANG BIN has gained the undesirable distinction of becoming China’s first “tiger” of the year. The term refers to a senior official ensnared in a corruption probe (as opposed to a “fly”, a lower-level cadre). Mr Wang, the chairman and Communist Party secretary of China Life, one of the world’s largest insurers, is a big catch. On January 8th the Central Commission for Discipline Inspection, China’s corruption watchdog, announced that he was under investigation for serious violations of law and party discipline—bywords for corruption. (China Life said in a statement that it firmly supported the probe.)
This article appeared in the Finance & economics section of the print edition under the headline “Taming tigers”
Finance & economics January 15th 2022
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- A corruption probe is only the latest of Chinese insurers’ woes
- Will remote work stick after the pandemic?
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