In 2025, our country's new energy vehicle insurance underwriting will grow by 40.1%

This article is reprinted from: Changzhou Daily

In 2025, premiums for new energy vehicle insurance in China grew by 40.1%

A loss of 5.6 billion yuan

Xinhua News Agency, Beijing, March 31—According to data released on March 31 by the China Society of Actuaries and the Bank and Insurance Information Technology Management Company, in 2025, China’s insurance industry underwrote 43.58 million new energy vehicles: 41.81 million passenger vehicles and 1.77 million freight vehicles. The number of vehicles underwritten increased by 12.48 million year over year, up 40.1%.

In 2025, China’s new energy vehicle insurance generated premium income of 190 billion yuan and provided risk coverage of 159 trillion yuan. The underwriting loss was 5.6 billion yuan, representing a year-over-year reduction in loss of 100 million yuan. The combined loss ratio fell by 1.3 percentage points year over year. Industry insiders attribute the decline in the combined loss ratio for new energy vehicle insurance to the continued strengthening of cost control in the insurance sector, which has improved operating quality.

In 2025, China had 429 model series for new energy vehicles. Of these, there were 143 high-claim model series with a claim ratio exceeding 100% (not yet taking into account the daily operating and management expense costs of property and casualty insurance companies), which is an increase of 6 compared with the previous year, including 106 passenger vehicle series and 37 freight vehicle series.

The China Society of Actuaries and China-Bank Insurance Information Systems (China Yinhubao) stated that, regarding the specific circumstances of those high-claim model series, they will feed the information back to the relevant automobile manufacturers through appropriate means, to help them improve the design of vehicle safety and repair cost effectiveness, and work together to reduce the cost of using vehicles across their entire life cycle. In the next step, they will continue to promote cross-industry communication and data sharing, improve the insurance coverage capacity and service level of new energy vehicle insurance, and support the high-quality development of the new energy vehicle industry.