Zhou Gonghua, the former chairman of Bank of China Insurance Company Limited, is undergoing disciplinary and supervisory investigation for suspected serious violations of Party disciplines and national laws, the Communist Party of China Central Commission for Discipline Inspection and the National Commission of Supervision, the country's top anti-corruption authorities, said on Friday.

Zhou, 63, holds a doctoral degree in economics from the Chinese Academy of Social Sciences and joined Bank of China in 1995. Throughout his career, he held positions including deputy head of both Bank of China's Sichuan Branch and Beijing Branch. In July 2016, he became the chairman of Bank of China Group Insurance Co.

Prior to Zhou, Ge Chunyao, former president of Bank of China Sichuan Branch, has come under scrutiny. The man who previously held the position of president at Bank of China Insurance Group Co, was placed under investigation in March.