China’s insurance regulator has fined two provincial units of PICC Life Insurance Co. Ltd. for various irregularities, it said in a statement on its website Tuesday. The branches are in Xian, Shanxi province, and Huanggang, Hubei province. They were fined 250,000 yuan (US$40,956) and 300,000 yuan, respectively, for offenses ranging from forged contact numbers to irregular policies. More than 8,000 insurance policies were involved, the statement said.
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