Recently, Tao Zhongwei, the vice president of ICBC Ansheng Life Insurance, announced that he is being investigated.
On November 15, the website of the Central Commission for Discipline Inspection of the Communist Party of China and the National Supervisory Commission reported that Tao Zhongwei, the executive director and vice president of ICBC Ansheng Life Insurance, was suspected of serious violations of discipline and law. He is currently undergoing disciplinary review by the Discipline Inspection and Supervision Group stationed at the Industrial and Commercial Bank of China and investigation by the Supervisory Committee of Dingxi City, Gansu Province.
Public information shows that Tao Zhongwei was born in 1972 and graduated from Hebei University of Geosciences. In July 1993, at the age of 21, Tao Zhongwei started working at the Industrial and Commercial Bank of China.
In August 2005, Tao Zhongwei joined the head office of the Industrial and Commercial Bank of China, where he held positions such as deputy head of the Personal Financial Business Department Wealth Management Product Sales Management Department, head of the Wealth Management Department, and head of Market Department Four. Starting in December 2016, he served as a marketing expert in the Personal Financial Business Department.
In October 2020, Tao Zhongwei joined ICBC Ansheng Life Insurance and became the vice president in December of the same year. Since August 2021, he has also been a supervisor of ICBC Ansheng Asset Management Co., Ltd., and serves as the chairman of the supervisory board.
During Tao Zhongwei’s tenure as vice president, the former Secretary of the Board and Chief Executive Officer (Vice President) Shi Xiaofeng resigned, the former Vice Chairman Ren Zhufeng resigned, and the former Chief Financial Officer (Vice President) and financial head Zhou Qiang also left their positions.
ICBC Ansheng Life Insurance was originally established as Jinsheng Life Insurance Co., Ltd. in Shanghai in May 1999. In July 2012, it was jointly established by Industrial and Commercial Bank of China Limited, AXA Group of France, and China Minmetals Corporation. Among them, Industrial and Commercial Bank of China Limited, AXA China, Minmetals Capital Holdings Co., Ltd., and China Minmetals Corporation hold 60%, 27.5%, 10%, and 2.5% of the shares, respectively.
Currently, ICBC Ansheng Life Insurance has set up 19 provincial branch offices, 1 direct central support company, and 1 asset management subsidiary.