Property and casualty insurance companies posted a combined underwriting profits of CNY5.1bn ($725m) in compulsory motor insurance business last year, according to the CBIRC.
2020 looks set to be the breakthrough year for China's Ministry of Industry & Information Technology's (MIIT) 'Plan for Development of Innovative Online Vehicles' (AV Plan), says Mr Michael Cripps, consultant at global law firm Clyde & Co.
The general insurance business in Thailand is predicted to grow from $7.7bn in 2018 to $9.1bn in 2023, an increase over the next five years of 18%, says a report from data and analytics firm GlobalData.
Several ministries and government departments have begun to insure their fleet of vehicles after years of deliberating on the issue.
South Korean non-life insurers are moving to raise premiums for motor policies by around 5% against ballooning losses from the auto insurance business.
Several insurance companies have created alternative solutions for the settlement of motor insurance premiums following a decision of the Ministry of Economy and Finance to prohibit payment by instalments.
The Insurance Companies Committee of Mali (Ccam) has announced that the Automobile Guarantee Fund will be operational soon.
Ping An's overseas investment arm Ping An Global Voyager Fund has led a $70m Series D funding in Indian auto technology company CarDekho alongside Sequoia Capital and Hillhouse Capital. This is the insurance group's first venture investment in India.
As Malaysia's general insurance market undergoes a phase of transformation and liberalisation, insurers have been urged to keep up with the times by embracing new competitive parameters such as risk-based pricing, tailored services and product innovation.
In partnership with insurer NTUC Income, online automotive marketplace Carro has launched Singapore's first true usage-based insurance (UBI) programme bundled exclusively into its car subscription service.