Motor insurers are under cost pressure in motor third-party liability insurance (dubbed traffic insurance) as losses continue to increase in the branch, according to the vice president of the Insurance Association of Turkiye (TSB), Mr Ahmet Yasar.
On April 10, the China Passenger Car Association (CPCA) released data showing that in March 2025, the retail penetration rate of new energy vehicles (NEVs) in China's domestic passenger car market rose to 51.1%, an increase of 8.7% from the same period last year. This surge in NEV growth is attributed to factors such as vehicle scrapping and trade-in programs, as well as the exemption of new energy vehicle purchases from taxes.
Arabian Shield Cooperative Insurance (ASC) managed to price the motor lines prudently, allowing it to generate underwriting profitability in 2024, notes Fitch Ratings.
The Insurance Council of Australia (ICA) has said that it welcomes an announcement by the Liberal-National Coalition to boost economic growth, reduce the cost of red tape on financial services businesses, and position Australia as a leading financial centre for the region.
Nasdaq-listed Chinese auto insurance technology platform company, Cheche Group, is now aligned with the majority of significant new-energy vehicle (NEV) manufacturers in China, according to its founder, CEO and chairman, Mr Zhang Lei.
These are the highlights for all events and updates across the industry this week.
Australian insurers have called for urgent and coordinated action to help address the systemic cost drivers behind rising motor premiums.
The Central Bank of Jordan (CBJ) has estimated that the increase in motor third-party liability (MTPL) insurance premiums by JOD12 ($17) for drivers who commit traffic violations would raise an additional JOD9.8m ($13.8m) in premiums for insurance companies this year.
The Insurance Committee of the Qatar Chamber views the issue of the pricing of mandatory health insurance as a priority.