As of the end of June 2026, Shenzhen’s auto insurance comprehensive expense ratio has declined month-over-month for six consecutive months. During the same period, the comprehensive expense ratios for commercial property insurance and engineering insurance both posted double-digit year-over-year declines. Commission rates for dedicated agents in the bancassurance channel have been standardized, yielding significant cost-reduction results. These developments were reported by PICC Property and Casualty Company Limited, Shenzhen Branch, on behalf of the Shenzhen Insurance Association at a press conference held in the first half of 2026. The association, focusing on its goal of reducing insurers’ expense-related losses, has continuously advanced efforts to rectify disorderly competition and improve industry competitiveness through a coordinated governance mechanism characterized by “regulatory impetus, industry mobilization, proactive action by insurers, and multi-party collaboration.”