Working smarter together for motor in China

There are over 240 million vehicles on China’s roads, and the numbers keep rising. In 2012, 15 million new cars were added, more than the entire car population at the end of 1999. Today, motor insurance is the biggest non-life business line in China, representing over 70% of non-life premiums.

Fuelled by over a decade of record economic growth, most Asian insurance companies moved to significantly grow their Motor portfolios over the last decade. Many did not anticipate the significant challenges that recent years of regulatory change, economic cycles, unsatisfactory underwriting results, and a rapidly evolving risk landscape have posed to the industry. Moreover, we continue to face that well-known bane of all Motor underwriters: highly price-sensitive and disloyal customers who take advantage of the great variety of insurance distribution channels, many of which lie outside the underwriter’s sphere of influence.

Since 2009, we've been working smarter together with our clients to help them get the most out of their capital through the creation of a new reinsurance solution for Chinese motor insurers that offers unmatched capital management flexibility. Motor Flexi Quota Share is a solvency relief solution which helps our clients control when and how much they exercise their options, helping them effectively turn volume into profit. With the new Solvency regime taking effect in 2015, we are supporting clients to improve their competitive edge under the new regulation.

Swiss Re has had a long-standing relationship with China since 1931. Using our capital strength, expertise, innovative ideas and international experience combined with local knowledge, we work closely with insurance companies and brokers in China to provide a full range of reinsurance products and services including motor and environmental pollution liability insurance.

And we've won "China Reinsurer of the Year Award" four times since 2010. Find your contact and learn more about our activities in China at swissre.com/china.

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