Business Insurance

Login  |  Register Subscribe

cbVid =

China: 22 insurers fined $17.9 million for price monopoly practices

September 3, 2014 - 6:00am

The National Development and Reform Commission of China has fined 22 insurers 110 million Chinese yuan ($17.9 million) collectively for price monopoly practices, The Times of India reported.

Of the 23 insurers accused of fixing fees, one escaped the fine by providing evidence to authorities.

A unit of Ping An Insurance Co. of China Ltd. is among the firms that have been fined.

The Zhejiang Insurance Association has also been fined CNY 500,000 ($81,400) for organizing meetings to fix prices.

Read more


Get our daily Global Focus newsletter

Related Articles and Documents

Ping An Insurance Q3 profit doubles

You may also want to visit

International Content