Claims settled for comprehensive and auto liability insurance exceed 1bn euros

Insurance companies settled overall claims (the sum does not exclude amounts paid by reinsurers) worth over 1.19 billion euros, i.e. half the value of gross underwritten premiums – 2.38 billion euros, according to preliminary data recently published by the Insurance Supervisory Commission (CSA). Like in previous years, claims rose faster than the insurers’ businesses in 2008. While gross underwritten premiums increased 11% last year, the claim growth rate was almost double, 21%. The widest majority of claims, 95.4%, come from the general insurance segment, while life insurance policies make up just 4.6% of the total. In terms of general insurance claims, comprehensive insurance and auto liability insurance make up a majority of 89.1% of policies. On the other hand, their share of the total general insurance premiums is lower, of 76.4%. General insurance sales brought insurers gross underwritten premiums worth almost 1.9 billion euros.