Concerns raised about EV insurance profit margins

Charging an electric car at an electric vehicle charging station

Swiss Re Institute has predicted electric vehicles will be half of all new car sales globally by 2035, with 73 million units estimated to be sold in 2040, resulting in the insurance market for this type of motor growing at a similar rate.

According to the reinsurer’s research team recent studies estimate double-digit annual growth rates up to 2030, taking the global market size to more than $200bn (£156bn) in 2030, from $51bn (£39bn)

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