19 out of the 30 Chinese property insurance firms suffered a loss in auto insurance business last year.
The four foreign-invested property insurers on the Top 5 premium revenue gainers list in the country all incurred a loss in auto insurance in the year.
Over 19 million vehicles were sold in China last year, making the country appealing to overseas auto insurance providers. Samsung Property & Casualty Insurance Company (China) announced earlier this week that it would march into the auto insurance market.
Source:
http://www.sinocast.com/readbeatarticle.do?id=93264
