Vehicle insurers hit
Source: Xinhua |
August 21, 2010, Saturday
|
Print Edition
Print Edition
CHINA'S insurers felt the side effect of the country's booming auto market -- with operating losses totaling 2.9 billion yuan (US$427 million) in 2009.
Insurance Association of China said yesterday its 30 member insurers that are engaged in compulsory vehicle insurance business underwrote 85.02 million units of vehicles in 2009, up 23 percent from a year ago.
Total compulsory insurance premiums rose an annual 21 percent to 66.8 billion yuan, the association said.
Meanwhile, the industry handled 11.78 million claims regarding traffic liability mandatory insurance products last year with reimbursements totaling 47.2 billion yuan, it said.
Insurance Association of China said yesterday its 30 member insurers that are engaged in compulsory vehicle insurance business underwrote 85.02 million units of vehicles in 2009, up 23 percent from a year ago.
Total compulsory insurance premiums rose an annual 21 percent to 66.8 billion yuan, the association said.
Meanwhile, the industry handled 11.78 million claims regarding traffic liability mandatory insurance products last year with reimbursements totaling 47.2 billion yuan, it said.
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