The rapid increase in the number of new energy vehicles in China has led to a financial conundrum for the country’s insurers. The insurers are finding it challenging to make a profit from insuring these vehicles, despite charging higher premiums. What Happened: The surge in NEV ownership in China has led to a surge in insurance premiums, but insurers are still struggling to turn a profit. The insurers’ loss ratio for NEVs is higher than for traditional vehicles, making it difficult for them to make money from insuring NEVs, reported Caixin. China’s NEV market has been growing rapidly, with the…
