1. Development status of the global automobile insurance industry Foreign automobile insurance originated in the mid-to-late 19th century. With the rapid expansion of the automobile manufacturing industry in Europe, the United States, Japan and other regions and countries, motor vehicle insurance has also been widely developed.

Modern car insurance originated in the United Kingdom. Car insurance has experienced four stages: the budding period before the 20th century, the construction period in the early and middle 20th century, the development period after the 1950s, and the mature period since the 21st century and has developed in the direction of intelligence.

stages, the specific development process is as follows.

On July 13, 2022, the latest Sigma report released by the Swiss Re Institute (hereinafter referred to as the "Swiss Re Institute") predicts that the global insurance market will grow strongly in 2022 and 2023, and the total global nominal premium will

It will exceed US$7 trillion for the first time by the end of 2022.

According to the report "Risk Challenges: Evolution of Opportunities for Property and Casualty Insurance to 2040" released by Swiss Re Research Institute in September 2021, global auto insurance premiums reached US$766 billion in 2020, accounting for 10% of the property and casualty insurance business.

The ratio is around 42%; the global auto insurance market size in 2021 will be approximately US$789.4 billion.

According to preliminary forward-looking statistics, the global auto insurance market will reach US$813.6 billion in 2022.

2. Corporate structure of the global auto insurance industry At present, the number of cars owned by 1,000 people in major countries around the world is as follows: about 870 cars in the United States, about 750 cars in Australia, about 730 cars in Canada, about 630 cars in Germany and Japan, and about 600 cars in Switzerland and the United Kingdom.

Coupled with the policy requirements for compulsory purchase of auto insurance in various countries, the global demand for auto insurance is relatively large, which has also driven the revenue growth of auto insurance companies.

The world's major auto insurance companies include Advance Insurance, American GEIGO, AXA, Allianz Insurance, PICC Property and Casualty Insurance, Ping An Property & Casualty Insurance, etc. Auto insurance involves car loss assessment, claims settlement and other service processes, so auto insurance companies mainly operate in areas where institutions are established.

For example, Qianjin Insurance’s main service area is in the United States, and PICC Property and Casualty’s auto insurance business is only carried out in China.

3. Regional pattern of the global auto insurance industry. From the perspective of the distribution of auto insurance companies, China’s auto insurance companies mainly include the “old three” PICC Property & Casualty Insurance Company, Ping An Property & Casualty Insurance Company and China Pacific Insurance Company Limited. There are also many American auto insurance companies, including Qianjin Insurance Company.

, GETCO, Travelers, Allstate, etc.; German auto insurance companies include Allianz Insurance Group, French auto insurance companies include AXA Group, and Switzerland has Swiss Re.

In China's auto insurance market, the government compulsorily purchases compulsory traffic insurance, and cars must be insured with compulsory traffic insurance.

In addition to China, other countries around the world also have national compulsory auto insurance requirements. However, because countries around the world have different development paths for auto insurance, the connotations of compulsory auto insurance in each country are also different, and can be mainly divided into two categories.

One is that insurance is more compulsory. The main countries include China, Japan, South Korea and other East Asian countries.

The other type is European and American countries represented by the United States and the United Kingdom. Compulsory auto insurance has a stronger commercial nature. Although it is a government requirement, it is still part of commercial insurance.

From the perspective of compulsory auto insurance, the auto insurance demand market can be analyzed through the car sales in various countries.

Preliminary statistics show that in 2022, global automobile production was temporarily reduced due to core shortages, and automobile sales also declined.

Among them, China’s car sales reached 26.864 million units, accounting for 33%, leading other countries; the United States’ car sales reached 13.7 million units, accounting for approximately 17%.