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Short term Insurance
Thursday, October 1, 2009
Steady as she goes

Claims, as a percentage of earned premiums, for the short term insurance industry remained at 68% for the half year to 30th June 2009. According to the Financial Services Board report for the latest half year combined net premiums for insurers with general licences totalled R19 032 million, up 6% from R17 953 million on the same period the year before. Underwriting profit rose 3,5% to R924 million; while investment income rose 33% to R1 830 million

Six of the twenty-five insurance companies in this group reported an underwriting loss for the six months ended June 2009 compared with ten who reported a loss for the three months ended March 2009. Three of the twenty-five insurance companies reported an operating loss for the six months ended June 2009 compared with five for the three months ended March 2009.
 

Copyright © Insurance Times and Investments® Vol:22.10 1st October, 2009
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