Insurance companies in China were ordered to dismiss 105 executives last year, up almost 3 percent from 2007, the China Insurance Regulatory Commission (CIRC) said Wednesday.

CIRC imposed administrative punishment in 853 cases in 2008, up 2.77 percent year-on-year, with fines of up to 34.67 million yuan (5.07 million U.S. dollars), up 13.48 percent, Pei Guang, deputy director of the CIRC inspection bureau, said.

The penalties involved cases of deceptive sales, false data, embezzlement of premiums, fictitious business expenses and other offenses, according to CIRC.

Inspections between March and December covered 2,214 branches of insurers and insurance agents.

Pei said CIRC's work this year would focus on monitoring the validity of insurers' financial data.