Six insurers authorized to issue their own motor tariffs

The Chinese authorities will allow six insurers to issue their own tariffs, calculated according to internal statistics. Criteria have been defined for the selection of insurers qualified to do the job.
These companies are required to have issued motor insurance for a minimum of three accounting years, exhibit a loss ratio below 100% and a minimum solvency ratio of 150%. They are equally required to have more than 300 000 vehicles in their portfolio in the course of the last accounting year.
The six companies approached are: Ping An, China Pacific, Sunshine, Alltrust, Anbang and Huatai. On the contrary, giant PICC, whose solvency ratio is of 115%, has failed to meet the criteria.

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