Japan’s auto insurance costs are expected to surge in 2026 due to rising traffic accidents and escalating repair costs driven by inflation. The General Insurance Rating Organization of Japan plans to hike its reference premium rates for optional insurance by an average of 5.7%, which insurance companies in the country are anticipated to adopt in their premiums starting January 2026. In another part of Asia, the Chinese motor insurance market is forecast to grow at a compound annual growth rate (CAGR) of 5.4% from 2024 to 2028, driven by increasing vehicle sales and a surge in demand for new energy vehicles. The sector will expand by 5.2% in 2024, bolstered by favorable regulatory developments.
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