Türkiye's second-hand automobile market is the dynamo of the motor insurance sector because its ecosystem has a volume seven times larger than the new-vehicle market, according to Quick Finans General Manager Nihat Karadag.
China's new mandatory national safety standards for electric vehicle (EV) batteries will take effect on 1 July 2026, these will be the world's strictest EV battery standards.
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.