Sinosafe controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2026
Penalties on Head Office and Branches for Clause, Data, and Cross-Region Violations
On February 27, 2026, regulators disclosed that Sinosafe Property Insurance had violated rules on policy terms and rates, data reporting, and cross-region operations. The 5.65 million yuan penalty covered the head office and its Shandong and Fujian branches, with 13 responsible individuals also held accountable. This entry consolidates related penalties from the same batch.
2026
Shenzhen Branch Fined 890,000 Yuan for Off-Contract Benefits, Fee Extraction, and Other Violations
In April 2026, Sinosafe Property Insurance's Shenzhen Branch was fined 890,000 yuan for off-contract benefits, fabricating intermediaries to extract fees, inaccurate financial and business data, and violations of policy terms and rates. Related personnel were also penalized, bringing the total for the institution and individuals to 1.39 million yuan.
2026
Suspended from Military Procurement for Bid Rigging in Military Purchases
In April 2026, the military procurement website reported that Sinosafe Property Insurance and Guoren Property Insurance had engaged in bid rigging and collusion, and suspended their eligibility for relevant military procurement. This entry concerns a procurement eligibility action and is not equivalent to revocation of an insurance business license.
2023
Wenzhou Central Branch Fined 730,000 Yuan for Fake Intermediaries, False Materials, and Cross-Region Operations
In 2023, Sinosafe Property Insurance's Wenzhou Central Branch was warned and fined 730,000 yuan for using fake intermediaries to extract commission fees, preparing false reports and materials, and operating across regions.