Fast Technology reported on August 19 that BYD Insurance recently released its second quarter solvency report.
BYD Property & Casualty Insurance has total assets of 3.
69 billion yuan.
In the first half of the year, it achieved insurance business income of 67.
2623 million yuan and net profit of 18.
4620 million yuan, of which net profit in the second quarter was 6.
0372 million yuan.
In terms of insurance products, BYD Insurance’s average vehicle premium is currently 4900 yuan, of which 100% is new car signings through direct sales channels.
BYD’s auto insurance orders reached 13,700 units, with an average price of 4900 yuan, slightly higher than the average price of about 4000 yuan for my country’s new energy auto insurance in 2023.
, currently, BYD Property Insurance has opened the insurance entrance, and its Weixin Official Accounts have also been launched.
Car owners can purchase and purchase insurance independently on the public account.
, However, currently, there are only seven provinces including Anhui, Jiangxi, Shandong, Henan, Hunan, Guangdong, and Shaanxi to be selected.
Other provinces are expected to be liberalized one after another as the approval is approved.
It is reported that new energy vehicles are currently facing industry problems such as high premiums and difficult insurance, and auto insurance companies are also under the pressure of losing money.
As a car company, after BYD entered the auto insurance industry, it was able to provide more competitive maintenance prices based on its own model characteristics and the scale effect of the automobile supply chain, thereby reducing the burden on auto insurance expenses for insured car owners.
Wang Chuanfu previously stated that BYD will further reduce various costs and expenses in its insurance business so that insurance for new energy vehicles can not only not lose money, but also make money.
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