After the leading taxi insurance company Taijia Insurance refused to accept the new taxi insurance policy earlier, it recently wrote to the industry to indicate that it would "surrender" the insurance after the 7-day notice period.
Taijia Insurance (6161) suspended trading this morning and will temporarily stop trading at 9 am. Gold will be reported at 0.48 yuan before trading suspension, with a market value of about 300 million yuan.
According to interim results, as of the end of June 2021, taxis’ premium income reached 160 million yuan, accounting for approximately 43.2% of the overall gross premium income, making it the largest insurance business under Taiga Insurance.
During the period, the segment profit of the taxi insurance business recorded a profit of RMB 34.204 million, compared with a loss of RMB 11.787 million for the same period in 2020.
Zheng Kehe, the permanent president of the Taxi Dealers Association, said recently that Taiga accounts for more than 60% of the insurance policies of the entire taxi industry. It is expected that Taiga's surrender will affect more than 10,000 taxis in Hong Kong.
In 2021, the Legislative Council held a meeting of the Joint Subcommittee on Insurance Matters in the Transportation Industry. At that time, the meeting documents cited information from the China Insurance Regulatory Bureau. There are 8 insurance companies in the market underwriting taxi insurance. In the 16 years from 2005 to 2020, 11 years have been recorded. Can be insured against losses.
The data also shows that premiums are on the rise. The average premium for comprehensive insurance in 2019 has increased by 9.8% compared to 2018; by 2020, it will increase by 20.9% year-on-year to RMB 33,902.
The average premium of third-party insurance has also risen. In 2019, it rose by 7.5% to RMB 22,210, and by 2020, it will increase by 17.9% to RMB 26,189.
Taxi shortage｜Insurance’s taxi business has eroded 11 years of indiscriminate claims and litigation for the deadliest taxi shortage in 16 years｜Taiga’s surrendered car owners and drivers are worried about the government’s action: a family of taxi shortages that depend on me for food｜ 4 insurance companies are willing to temporarily take over the Taiga insurance policy for 30 days before discussing the plan with the car owner. Taxi shortage | Taiga insurance after 7 days withdraws from the insurance and expects that more than 10,000 taxis will not be on the road
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