Silver lining for some: virus shutdown boosts China non-life insurers

MG

Moderator
Chinese non-life insurers are discovering a silver lining to the cloud spreading over China’s economic performance from the coronavirus outbreak - a sharp drop in car accident claims.

Beijing’s efforts to contain the new coronavirus have included widespread travel and quarantine restrictions across the country and although these are now being lifted, the loss of economic and social activity meant there were few cars on the road in late January and February.

“There’s certainly a decline in auto insurance claims and the settlement ratio due to less traffic and activity amid the virus outbreak,” said a senior Beijing-based executive at....READ MORE HERE
 
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