China Banking and Insurance Regulatory Commission: In 2024, the loss of compulsory insurance underwriting was 15.27 billion yuan, and the investment income allocated was 4.62 billion yuan.

On September 5th, the China Banking and Insurance Regulatory Commission issued a notice regarding the situation of compulsory motor vehicle traffic accident liability insurance business in 2024. According to the audited data of various insurance companies, a total of 372 million motor vehicles were insured under compulsory insurance from January 1st, 2024 to December 31st, 2024. The premium income from compulsory insurance was 271.06 billion yuan, the claims cost was 226.28 billion yuan, and the management and service cost was 52.32 billion yuan (including a rescue fund of 1.1 billion yuan). In 2024, there was a loss of 15.27 billion yuan in compulsory insurance underwriting, offset by investment income of 4.62 billion yuan. The original announcement from the China Banking and Insurance Regulatory Commission provides detailed information on the compulsory insurance business in 2024 and the financial and actuarial reports of the relevant insurance companies, which can be accessed through the website of the China Insurance Association or the websites of insurance companies engaged in compulsory insurance business. China Banking and Insurance Regulatory Commission September 5, 2025