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FR
High claims costs keep China’s EV insurers in the red
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Business Insurance
China’s electric vehicle insurance market continues to expand but has been bogged down by three years of continuing underwriting losses, Chosun Biz reports, citing Bloomberg.
Insurers collected 141 billion Chinese yuan ($19.8 billion) in premiums for electric vehicles in 2024, while high claim frequency and costly battery repairs drove underwriting losses of CNY5.7 billion.
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