trending Market Intelligence /marketintelligence/en/news-insights/trending/qf818dhtkvdv1aywzcndkg2 content esgSubNav
In This List

Chinese regulator fines Sinosafe General Insurance over false labor expenses

Blog

The Big Picture 2022 Insurance Industry Outlook

Podcast

Next in Tech | Episode 37: Insurance impacts on technology and vice versa

Case Study

A Prestigious Global Business School Gains a Competitive Edge

Video

S&P Capital IQ Pro | Unrivaled Sector Coverage


Chinese regulator fines Sinosafe General Insurance over false labor expenses

The China Insurance Regulatory Commission's Ningbo bureau fined Sinosafe General Insurance Co. Ltd. 180,000 yuan over the misreporting of labor expenses by its Ningbo branch.

Between January 2017 and September 2017, the Ningbo branch reported 1.9 million yuan in labor fees that went toward auto insurance payments.

As of Jan. 24, US$1 was equivalent to 6.37 Chinese yuan.