Corruption Probe of China Life’s Chairman Was No Surprise, Sources Say

The investigation of China’s top anti-graft authority into the chairman of state-owned China Life Insurance (Group) Co., came as no surprise, people with knowledge of the matter told Caixin, as the financial veteran’s past colleagues have fallen to corruption probes in recent years.

Wang Bin, China Life’s chairman and Communist Party committee secretary, is under investigation on suspicion of serious violations of law and party discipline, the Central Commission for Discipline Inspection (CCDI) announced Saturday. Such violations usually refer to corruption.