Non-life gross written premium grew by 22% in the Republic of Ireland during 2002, according to figures published by the Irish Insurance Federation (IIF). Non-life gross written premium was worth €3955m for the year.
These figures come from the IIF Factfile for 2002. The Factfile covers figures for 2002 in depth, but also looks at trends over the five-year period between 1998 and 2002, said the IIF.
According to the IIF, gross liability premium income grew by over 40%.
The number of new motor claims fell by 9%. The IIF said this represented a turnaround for the motor market, with a net underwriting profit for the first time in many years.
According to the Factfile, liability insurance still produced an underwriting loss of over €115m, an improvement on the €164m loss in 2001.
The Irish insurance industry is said to employ over 15,000 people.
