Good performance for compulsory motor insurance

The Chinese compulsory motor insurance recorded solid results for the year 2014. According to the China Insurance Regulatory Commission (CIRC), the 50 non life insurance companies collected 141.8 billion CNY (23 billion USD) of premiums for a cumulative profit of 1.6 billion CNY (261 million USD).

Note, however, that over the period from July 1, 2006, date of implementation of compulsory motor third party liability insurance, to December 31, 2014, the motor class of business accounted for losses of up to 20 billion CNY ( 3 billion USD).