Insurance premiums for electric vehicles (EVs) have increased at double the pace of fuel-powered cars after the heavy rains in the UAE in April 2024.
Shenzhen BYD Property & Casualty Insurance (BYD Insurance) has posted a net profit of CNY18.46m ($2.6m) on an insurance business income of CNY67.26m for the first half of this year, according to the insurer's 2Q2024 solvency report.
Nasdaq-listed SunCar Technology Group, which offers cloud-based B2B auto services and auto e-insurance in China, has announced a two-year agreement between its wholly-owned subsidiary, Shengshi Dalian Insurance Agency and SAIC Maxus Automotive Sales & Service.
Revenue generated by the motor insurance branch is expected to outpace the growth of Saudi Arabia's overall insurance market due to ongoing efforts to reduce the number of uninsured vehicles, according to a Standard & Poor's (S&P) analyst. The overall market is expected to grow by 15-20% in 2024.
China's motor insurance branch chalked up an underwriting profit of CNY13.50bn for 1H2024, jumping by 56.8% compared to the first half of 2023, according to an analysis of the financial performance of the non-life sector.
The motor insurance branch showed that premiums rose in the second quarter of this year, compared to the first quarter.
Nasdaq-listed Cheche Group, a leading auto insurance technology platform in China, has entered into a partnership with Wuhan Dongfeng Insurance Broker Co as Cheche further diversifies its partner network with leaders in the new-energy vehicle (NEV) sector.
Qatar Insurance Company (QIC), the leading insurer in Qatar and the MENA region, has announced a strategic restructuring of its UK motor business.
The insurance industry in Cambodia is expected to see good growth in future years, according to the director-general of the Insurance Regulator of Cambodia (IRC), Mr Bou Chanphirou.
The General Insurance Association (GIA) of Singapore has launched its Myinfo Reporting service.