Nan Fang Du Shi Bao·2025-08-15 13:24Core Insights - BYD Insurance reported significant improvements in its financial performance for the first half of 2025, achieving a net profit of 31.35 million yuan and a comprehensive loss ratio of 95.13% [2][3] - The company has successfully reduced its comprehensive loss ratio and comprehensive cost ratio from over 200% in 2024 to levels closer to industry averages [3] Financial Performance - In the first half of 2025, BYD Insurance generated insurance business revenue of 1.398 billion yuan, with a net profit increase from 5.77 million yuan in Q1 to 25.58 million yuan in Q2 [2] - The comprehensive loss ratio and comprehensive cost ratio were reported at 95.13% and 101.23%, respectively, indicating a significant improvement from 233.92% and 308.81% in 2024 [3] Business Focus - BYD Insurance focuses primarily on new energy vehicle insurance, with 99% of its total premium income coming from auto insurance, amounting to 1.389 billion yuan in the first half of 2025 [3] - The average premium per vehicle for BYD Insurance was reported at 4,300 yuan, which is close to the industry average of 4,395 yuan for new energy vehicles in 2023 [3] Company Background - BYD Insurance was formed from the restructuring of the previously troubled Easy Insurance, which was taken over by regulatory authorities in 2020 due to solvency issues [4][5] - The company was fully acquired by BYD in May 2023 and subsequently rebranded, with operations approved in several provinces by May 2024 [5]