trending Market Intelligence /marketintelligence/en/news-insights/trending/_H5_DIR2V7UjleqTP3xTdg2 content esgSubNav
In This List

Shin Kong & HNA Life Insurance fined for violating money-laundering laws

Blog

Perspectives from China: The Shifting Regulatory Landscape

Blog

Anticipate the Unknown: Does Supply Chain Disruption Lead to Increased Credit Risk?

Blog

Data Stories: Data insights to help alleviate business complexity amid geopolitical risks

Blog

Expand Your Perspective: Data & Distribution Q&A


Shin Kong & HNA Life Insurance fined for violating money-laundering laws

Shin Kong & HNA Life Insurance Co. Ltd. was fined 250,000 Chinese yuan by the People's Bank of China's Xi'an branch for violating money-laundering laws, the regulator said Dec. 25.

The regulator said the life insurer's Xi'an branch did not perform know-your-customer due diligence and blacklist monitoring.

Beijing-headquartered Shin Kong & HNA Life is a joint venture between Taiwan's Shin Kong Life Insurance Co. Ltd. and China's HNA Group.

As of Dec. 26, US$1 was equivalent to 6.54 Chinese yuan.