New Energy Vehicle Insurance Premiums Surge 33.88% Last Year, Far Outpacing Industry Growth

In 2025, nationwide auto insurance premium income reached RMB 996.37 billion, up 2.99% year-on-year, while incurred claims payments totaled RMB 622.46 billion, an increase of 4.06% year-on-year. Notably, commercial insurance for new energy vehicles (NEVs) stood out significantly, with premium income reaching RMB 157.61 billion—a substantial 33.88% year-on-year increase—and incurred claims payments amounting to RMB 79.92 billion, up 36.09% year-on-year. The data shows that the growth rate of NEV insurance far exceeded that of the overall auto insurance market, reflecting the continued expansion of the new energy vehicle market and rapidly rising insurance demand.