CDF, on behalf of subsidiary China Life, announces explanation to the FSC’s penalty judgement

2022-09-07
Announcements

Date of announcement 2022/09/07
Time of announcement  20:54:02
Date of events 2022/09/07
To which item it meets paragraph 39

1.Date of occurrence of the event:2022/09/07
2.Circumstances of the violation:The FSC discovered violations of
insurance-related regulations when reviewing China Life’s operations
regarding financial consumer protection for the elderly.
3.Monetary amount of fines:NT$2.4 million
4.Status of the injunction by the respective competent authority:
A penalty of NT$2.4 million and 1 deficiency in accordance with the
Insurance Act.
5.Intended improvement measures:Relevant improvement measures in
accordance with the opinions of the competent authority.
6.Effect on the Company’s business operations: None
7.Any other matters that need to be specified: None