Liu Hong, Party secretary and president of the People's Insurance Company of China (PICC), is being investigated for suspected violations of Party disciplinary rules and laws, according to an announcement of the top anti-graft agency on Friday.

He is being investigated by the discipline inspection and supervision team of the China Central Commission for Discipline Inspection and the National Supervisory Commission, according to the announcement.

Liu, 56, was appointed Party secretary, director and president of the PICC since October 2007.