In the first 10 months, the insurance premiums for electric vehicles increased by 53% year-on-year, with new players such as BYD and Xiaomi entering the market successively.

The rapid growth of insurance premiums for electric vehicles has led to a continuous increase in the number of institutions participating in the business.

In the first 10 months of this year, the commercial insurance premiums for new energy vehicles reached 90.7 billion yuan, a year-on-year increase of 52.74%, far exceeding the 4.06% year-on-year growth rate of the overall auto insurance industry.

Industry insiders believe that the rapid growth in commercial insurance premiums for new energy vehicles is mainly driven by the continuous increase in sales of new energy autos, as well as the relatively high insurance premiums for electric vehicles. At the same time, the recent car insurance market will see new 'players,' leading to continuous changes in the market with many highlights. (Securities Daily)

Share buyback and shareholding initiatives are sweeping the A-share market, why are insurance companies hesitating to move forward?

Since the announcement of the establishment of stock repurchase and shareholding refinancing by the central bank on October 18, hundreds of Shanghai and Shenzhen listed companies have signed loan agreements or obtained loan commitment letters with banks, intending to use loan funds for repurchasing or shareholding, involving funds exceeding 20 billion yuan.

Insurance companies have been more active in buybacks this year, but are still hesitant to proceed with share buyback and refinancing actions, mainly due to related regulatory restrictions and strong stock prices. (Jiemian News)

Insurance companies increased capital and issued bonds by nearly 110 billion yuan in the first 11 months, with local state-owned enterprises contributing over 10.7 billion yuan. 23 insurance companies are still facing a solvency crisis.

In 2024, the insurance industry still faces the dilemma of capital shortage, with persistently low interest rates as the main cause. Although the stock market has surged since the end of September, easing the urgent needs of some insurers, finding ways to supplement capital and enhance solvency remains the most urgent task for many insurers. As of the end of the third quarter, 16 insurers have not yet published solvency reports, and 7 insurers have a risk comprehensive rating of C.

According to incomplete statistics, as of November 12, 2024, a total of 24 insurers have increased their capital by 25.411 billion yuan. Among them, local state-owned assets have contributed approximately 10.7 billion yuan, accounting for as high as 42%; 10 insurers have issued a total of 13 bonds, with a total bond issuance scale of 83.6 billion yuan.

In less than a year, the industry's capital increase and bond issuance scale has reached nearly 110 billion yuan. However, compared to the insurance industry's total capital increase and bond issuance scale of as high as 200 billion yuan in 2023, there has been a significant decline. (Hui Bao Tian Xia)