Former Party Secretary and Chairman of China Bank Insurance, Zhou Gonghua, has been under investigation nearly three years after retirement.
According to the official website of the Central Commission for Discipline Inspection of the Communist Party of China, on May 23rd, Zhou Gonghua, the former Party Secretary and Chairman of China Bank Insurance Limited, is suspected of serious violations of discipline and laws, and is currently undergoing review and investigation.
Public information shows that the 62-year-old Zhou Gonghua had worked at Bank of China for many years, holding positions such as Deputy Director of the Credit Management Department, Deputy Director of Risk Management Department of the Credit Management Department, Director of the Asset Protection Department, and Director of the Asset Protection Planning and Management Department. He also held positions as Assistant to the President and Member of the Party Committee of the Sichuan Branch of Bank of China, as well as Deputy President of the Beijing Branch. During his career, Zhou Gonghua also briefly served in politics, previously working as Assistant to the Mayor and Party Member of the Yibin City government in Sichuan Province.
In July 2016, Zhou Gonghua was appointed Chairman of China Bank Insurance, leading the company for nearly six years until his retirement in May 2022. Established on January 5, 2005, China Bank Insurance is a wholly-owned subsidiary of Bank of China and currently the largest bank-affiliated property insurance company in China, with its headquarters located in Beijing.
In recent years, several former Chairmen of life and property insurance companies under Bank of China have been investigated.
In addition to Zhou Gonghua, on March 29th of this year, Ge Chunyao, former Party Secretary and President of the Sichuan Branch, was investigated. Prior to the investigation, Ge Chunyao had served as Chairman of China Bank Group Insurance Limited. China Bank Group Insurance was established in Hong Kong on July 23, 1992, as a wholly-owned subsidiary of Bank of China and it was the first property insurance company established by Bank of China.
In March 2023, Wang Jianhong, former Party Secretary and President of the Beijing Branch of Bank of China, was investigated. Prior to the investigation, Wang Jianhong had recently stepped down as Chairman of Bank of China Samsung Life. Bank of China Samsung Life Insurance Limited was established in August 2015 and is a national life insurance company under Bank of China. Formerly known as China Aviation Samsung Life Insurance Co., Ltd., it was founded in 2005, with its headquarters in Beijing.