On September 4, 2026, regulatory disciplinary actions revealed that THTF Life Insurance Co faced severe penalties for multiple compliance violations. According to the penalty decision published by the regulator, the insurer was found to have committed four distinct infractions: offering policyholders benefits beyond contractual terms, failing to strictly apply approved premium rates, using non-compliant sales scripts, and reporting inaccurate business and financial data.

In response to these violations, the regulatory authority imposed a fine of 1.3 million yuan on the company. Beyond the corporate penalty, several directly responsible individuals and management staff were also held accountable, resulting in a dual punishment structure covering both the institution and the individuals involved. The individual penalties show that Wang Chaopeng, Wu Shuo, and Liu Jiejing each received warnings and fines of 70,000 yuan for their respective duties. Xu Haixia was warned and fined 40,000 yuan, Wan Bin was warned and fined 80,000 yuan, and Guo Xin was warned and fined 10,000 yuan. The total fines levied on individuals reached 340,000 yuan, and when combined with the corporate fine of 1.3 million yuan, the overall penalty exceeds 1.6 million yuan, underscoring the regulator's strict stance on compliance oversight within the insurance sector.

In response to the penalties, a spokesperson for THTF Life Insurance stated: "Regarding the issues disclosed by the Shenzhen Regulatory Bureau of the National Financial Regulatory Administration, the company has adopted immediate corrective measures and has implemented rectification requirements item by item. This administrative penalty will not have a material impact on the company's operations. Going forward, we will strictly adhere to laws, regulations, and regulatory requirements, strengthen our compliance management responsibilities, and continuously enhance internal controls to ensure stable and compliant operations."

Public records and corporate disclosures indicate that Wang Chaopeng, one of the penalized individuals, previously served as Deputy General Manager of the company and was among its core executives. Born in 1974, Wang Chaopeng holds a bachelor's degree in Business Administration from the Central Radio and Television University and brings over 25 years of experience in the insurance industry. Before joining THTF Life Insurance in 2015, he held various positions at Generali China Life Insurance Co, including head of the individual insurance channel at the Guangdong branch, deputy chief marketing development officer, general manager of the Shenzhen branch, and general manager of the individual marketing channel at headquarters. Since joining the company, he served as Chief Agency Business Officer and Deputy General Manager, and now holds the position of General Manager Assistant, overseeing internet channels and brokerage channels. In the company's second-quarter solvency report for 2026, it stated that Wang Chaopeng "has strictly followed relevant national laws and regulations and diligently fulfilled his duties since taking office." However, the disclosed penalty information clearly suggests otherwise.

Notably, prior to the announcement of this penalty, Wang Chaopeng's title had already been changed from Deputy General Manager to General Manager Assistant. In April 2026, official company press releases still referred to him as "Deputy General Manager and Chief Internet Business Officer and Head of the Multi-channel Business Division" at industry events. However, by the company's solvency report released in June 2026, he was already listed as General Manager Assistant. This means the 52-year-old executive has been demoted from Deputy General Manager to General Manager Assistant, a position he held a decade ago.

Where to begin

According to public information, THTF Life Insurance was established in 2003 as a Sino-foreign joint venture life insurer, equally owned by Tsinghua Tongfang Co and Aegon N.V. with a balanced and stable shareholding structure. The company operates across multiple provinces and cities nationwide, primarily offering life insurance, health insurance, accident insurance, and other personal insurance products, while also engaging in related insurance fund investments and risk management activities. The company's General Manager is Zhu Qingguo, born in 1971, who holds a bachelor's degree in Science from Nanjing Normal University. With over 25 years of industry experience, he previously held key positions at Ping An Life, Taiping Life, Sunshine Life, and Generali China Life before joining THTF Life Insurance in 2015. He subsequently served as General Manager of the Jiangsu branch and General Manager Assistant, and in 2022 received regulatory approval to serve as General Manager, taking full responsibility for the company's daily operations.