Retirement China Life Lin Dairen, the former president of Insurance Co., Ltd. (hereinafter referred to as "Guoshou", 601628.SH, 2628. HK), received the biggest "fine" in his life after only two months as president. A few days ago, China Life Insurance (Group) Corporation (hereinafter referred to as "Guoshou Group") imposed a severe warning within the Party for promoting more than 100 cadres in violation of regulations before retiring.
On the morning of November 17, China Business Daily reports Lin Dairen was severely warned by the party for the illegal selection and employment of personnel, Huang Xin, the main head of the organization department and human resources department of the party committee of Guoshou, was warned by the party, and Miao Ping, the secretary of the discipline inspection commission, also accepted the admonition talk.
Caijing reporter confirmed the news from multiple sources, including China Life Insurance System, and obtained a copy of the notification document published by Guoshou Group in China Life Insurance System on November 15.
The "bulletin" shows that as early as August this year, the party committee of Guoshou Group ordered the party committee of Guoshou Group to make a deep inspection on the illegal selection and employment problems found during the inspection, and hold the relevant responsible persons accountable. Recently, according to the relevant facts, the Party Committee of the Group Company has punished the relevant responsible personnel.
Lin Dairen, the then Secretary of the Party Committee and President of Guoshou, was severely warned by the Party, Huang Xin, the main head of the Organization Department and Human Resources Department of Guoshou, was warned by the Party, and Miao Ping, the Secretary of the Commission for Discipline Inspection, was admonished.
On the morning of September 17, Guoshou Group announced that Su Hengxuan, vice president of Guoshou Group, would replace Lin Dairen as the secretary of the party committee of Guoshou Group. Lin Dairen, who had reached retirement age in June this year, retired.
According to Caijing reporter, Lin Dairen was punished because employees of Guoshou Group reported to the Central Commission for Discipline Inspection in their real names. Previously, Caijing reporters had heard many times that Guoshou had suddenly promoted a number of heads of provincial companies, departments and offices. Even when Lin Dairen reached the retirement age in June, the internal personnel of Guoshou was still being adjusted.
It is understood that according to relevant regulations, personnel freezing is usually required before the change of senior management, and the freezing period is at least three months. If Lin Dairen retires as scheduled when he reaches the retirement age in June this year, the personnel of Guoshou should be frozen at least before March this year.
Since this year, China Life Insurance Group and its subsidiaries have been faced with high-level personnel adjustments. In addition to job changes, there are also a number of retirees who are reaching the age of retirement, such as Lin Dairen. Therefore, the change of president of Guoshou has been an established fact. Previously, there were several versions of the next president of Guoshou. For various reasons, when Lin Dairen reached retirement age in June, the new president was still not announced. According to several insiders, at that time, Guoshou was still making frequent personnel adjustments within the system, and could not see the "signs" of his retirement due. Some people who did not meet the job requirements were also suddenly promoted, and the system was full of complaints about this.
The "notification" shows that Guoshou has the fact of illegal selection and employment in four aspects.
First, cadres were selected through "overseas promotion", "overseas selection", large-scale competition, etc. In 2017 and the first four months of 2018, the proportion of competition for posts in the headquarters reached 57% and 40%. Especially in the first four months of this year, there were 111 cadres intensively researched and recruited, including 91 cadres in March and April, and their qualification conditions were changed at will, relaxed and strict. At this time point, according to the regulations of China Life Insurance, it should be in the personnel freeze period.
The second is to discuss and decide on the appointment and removal of cadres in violation of the prescribed procedures. The "bulletin" shows that in December 2014, March 2015 and July 2017, when the actual number of people attending the meeting was less than the quorum, Guoshou held a party committee to study the appointment and removal of cadres.
The third is to promote leading cadres beyond institutional specifications. In November 2016, March 2017 and March 2018, under the condition that the size of the organization and the number of cadres remain unchanged, we studied and decided to improve the rank treatment of eight department level leaders of the head office.
Fourth, when appointing cadres beyond qualification conditions, they did not report to the superior organization (personnel) department for approval in advance. From April 2015 to the beginning of 2018, in the four times of cadre recruitment organized, decisions were made on the appointment of cadres that broke through the educational qualifications and qualifications set by the system, but they were not reported to the Human Resources Department of the Group Company for review and approval in advance.
In addition, the "bulletin" also listed five problems existing in the party committee of Guoshou. One is that the basis of respect for public opinion is not enough for the recruitment investigation. Cadres who are not widely recognized by the masses and whose voting recommendation rate and conversation recommendation rate are less than 1/3 are included in the investigation. For the internal exchange and temporary appointment system of Guoshou, it is a mere formality. The "bulletin" shows that since 2014, more than 80 cadres have taken temporary posts at the grass-roots level for one year without taking up actual positions. To a certain extent, there is a phenomenon of "supplementing experience" and "mixing experience", and some "top leaders" of provincial institutions communicate too frequently.
In addition, the system of part-time work and dismissal at the age of the executive cadres of Guoshou is not strict. Some branch team members did not report their part-time work to the superior party committee for approval. Some branch team members served as members of the CPPCC Provincial Committee, and after being dismissed at the age of their seniority, they still transferred to the head office as supervisors and received remuneration. The implementation of the family withdrawal system was not strict, and there were still family relationships that should be avoided in the life insurance system that were not rectified.
In addition, the management of going abroad for personal reasons was not strict. Several employees of the company went abroad for personal reasons without approval, and some employees obtained long-term residence permits outside the country in violation of regulations.
Accordingly, Lin Dairen was severely warned by the Party, and Huang Xin, the main head of the Organization Department and Human Resources Department of the Party Committee, was warned by the Party, and admonished Miao Ping, secretary of the Commission for Discipline Inspection.
According to the provisions of the Regulations of the Communist Party of China on Disciplinary Punishment, in the year of receiving a serious warning within the Party, the person who participates in the annual assessment will be determined as incompetent if he is given a serious warning due to an error related to his duty behavior. Being severely warned, he shall not be promoted within the Party or recommended to non Party organizations for non Party posts higher than his original post for one and a half years.
For a long time, it has been an open secret that institutional executives are promoted suddenly before leaving office, and "their own people" are properly arranged. The "bulletin" also criticized this phenomenon as "taking the position as a gift", and the selection and appointment of cadres are more arbitrary.
In recent years, due to various reasons such as industry development and the company's internal mechanism, China Life Insurance has experienced a serious brain drain within the system. It is understood that in some important business departments, even the main backbone employees once left in succession. On the other hand, some people with connections, backgrounds and connections have been promoted rapidly. In addition, there is also the phenomenon of "performance oriented" ranking.
In the past two years, the development of Guoshou has been sluggish, and it is often caught in the public opinion of the "one brother" dispute in the life insurance industry. It is also believed by some insiders in the industry and Guoshou that this has something to do with Guoshou's careless selection and employment and lax team.
A few days ago, its third quarter report showed that by the end of September, it had realized an operating revenue of 540.967 billion yuan, down 1.2% year on year; The net profit attributable to shareholders of the parent company was 19.869 billion yuan, down 25.9% year on year, making it the only A-share listed insurance company with negative net profit growth in the first three quarters. From the perspective of the third quarter, its net profit attributable to the owners of the parent company also declined, with a sharp year-on-year decrease of 76% to 3.446 billion yuan.
On November 13, at the first extraordinary general meeting of shareholders and the board of directors in 2018 held by Guoshou Group, Wang Bin, chairman of Guoshou Group, was elected as executive director and chairman of Guoshou Group respectively, and Yang Mingsheng officially stepped down as chairman of Guoshou Group. On September 17, after Lin Dairen retired, Su Hengxuan, Vice President of Guoshou Group, took over as the Secretary of the Party Committee of Guoshou Group. His proposed position of President is still in the approval process of the regulatory authorities for his qualifications.
After "Yang Lin Pei" becomes "Wang Su Pei", will Guoshou Company welcome a new trend?
Editor in charge: Chen Xin
