综合一区欧美国产,99国产麻豆免费精品,九九精品黄色录像,亚洲激情青青草,久久亚洲熟妇熟,中文字幕av在线播放,国产一区二区卡,九九久久国产精品,久久精品视频免费

Cars

City curb on auto purchases to hit motor insurers hard

By Hu Yuanyuan (China Daily)
Updated: 2011-01-25 10:16
Large Medium Small

City curb on auto purchases to hit motor insurers hard

Cars stand idle at the park of a BYD dealer in Beijing. The city's policy to require potential buyers to get a registration plate before purchasing a vehicle will not only hurt car dealers, but insurers. [Photo/China Daily] 

BEIJING - The capital city's auto insurance premium income will probably see a slump in growth this year due to curbs on auto purchases by the local government, the city's insurance regulator said on Monday.

"This year will be a turning point for Beijing's auto insurance market. Even with an optimistic estimate, the city's premium income from motor insurance this year could be as much as that of last year, compared with more than 30 percent annual growth in the past few years," said Ma Ji, director of the property and casualty insurance division of Beijing Insurance Regulatory Bureau.

Related readings:
City curb on auto purchases to hit motor insurers hard Insurers report loss on rising reimbursements of traffic insurance
City curb on auto purchases to hit motor insurers hard Stormy proof sells for auto insurance claims
City curb on auto purchases to hit motor insurers hard Higher insurance rates for drunk drivers
City curb on auto purchases to hit motor insurers hard Foreign insurers foray into China's car insurance market

According to the bureau, Beijing's auto insurance premium income hit 15.28 billion yuan ($2.3 billion) in 2010, up 39.5 percent from the previous year. That of commercial auto insurance reached 11.97 billion yuan last year. That means the local government's restriction on auto purchases will probably result in a premium income loss of nearly 3.6 billion yuan this year based on average growth in the previous years.

Auto insurance currently accounts for 42 percent of Beijing's property and casualty insurance market.

To ease the worsening gridlock in the capital city, which boasts a population of about 20 million, municipal authorities now issues just 20,000 new vehicle license plates a month, meaning annual sales will plunge to 240,000 units in 2011 from 891,000 units in 2010.

Local large property and insurance companies will suffer the most from the plummeting auto sales this year, with most of them registering negative growth in January, according to industry insiders.

But as very few foreign insurance companies are running auto insurance in China right now, the impact on them will be quite limited.

"We still maintain a positive growth from the auto insurance sector in January, thanks to a big proportion of existing business and a much smaller part of new business," said Long Tong, marketing manager of Liberty Mutual Insurance Company (Beijing branch). It is the second-largest non-life-insurance company in the United States.

According to Jiang Caishi, vice president of the country's largest non-life insurer PICC Property & Casualty Company Ltd, the company will make more efforts in exploring existing business either through improving services or products to offset the loss from the premium income of new auto insurance in Beijing.

分享按鈕
中超| 滕州市| 久治县| 工布江达县| 马鞍山市| 湖北省| 修水县| 萝北县| 齐齐哈尔市| 虎林市| 犍为县| 环江| 屯留县| 大余县| 新田县| 宜州市| 黄浦区| 高陵县| 宁乡县| 台中县| 文昌市| 固镇县| 海安县| 镇巴县| 乌拉特后旗| 宁安市| 桂林市| 佛学| 上犹县| 西华县| 石林| 佛坪县| 化德县| 漳州市| 南阳市| 新巴尔虎右旗| 松溪县| 资中县| 宜宾市| 公主岭市| 昂仁县|