After the comprehensive reform of auto insurance, the negative impact on China Pacific Insurance (Group) Co.Ltd(601601) premium has been basically eliminated. What is the growth rate of China Pacific Insurance (Group) Co.Ltd(601601) auto insurance premium expected in 2022? How to treat the comprehensive cost rate? At the performance conference of China Pacific Insurance (Group) Co.Ltd(601601) 2021 held on March 28, Gu Yue, chairman of CPIC property insurance, said that from the perspective of the industry, the overall premium of the industry rebounded significantly compared with the initial stage of comprehensive reform. In addition, after the implementation of the exclusive provisions for new energy vehicles, the standard premium of China Pacific Insurance (Group) Co.Ltd(601601) as a whole increased slightly.
For the growth trend of auto insurance premiums in 2022, Gu Yue believes that two factors are very important: one is the development of the overall auto market; the other is that from the perspective of the auto market, the auto market is in a downturn, and only new energy vehicles stand out and grow rapidly.
“Although the comprehensive cost rate of new energy vehicles is on the high side in the current period, vertically, from the change of time axis, the business quality has been continuously optimized, and the cost of insurance policy has been continuously reduced. China Pacific Insurance (Group) Co.Ltd(601601) 601 believes that as long as multiple approaches and scientific control are adopted, the cost of new energy vehicles will tend to be stable, which will play a positive role in promoting the future development.” Gu Yue said.
