asked the Minister for Industry and Commerce if he will state for each year available since 1962 the amount of (a) premiums earned, (b) claims incurred, (c) commission, (d) expenses, (e) profit or loss and (f), (b) (c) (d) and (e) expressed in each case as a percentage of (a) for all motor insurance business in the State.
Written Answer. - Motor Insurance.
64.
The particulars, which are set out in the following statement, are based on the information contained in the Summary of Statements of Assurance Business published annually by my Department.
Following are the particulars:—
MOTOR INSURANCE BUSINESS
|
(a) |
(b) |
(c) |
(d) |
(e) |
(f) |
||||
|
Year |
Premiums Earned |
Claims |
Commission |
Expenses |
Underwriting Profit (+) or Loss (-) |
Claims as percentage of Premiums Earned |
Commission as percentage of Premiums Earned |
Expenses as percentage of Premiums Earned |
Profit or loss as percentage of Premiums Earned |
|
£ |
£ |
£ |
£ |
£ |
|||||
|
1962 |
5,561,978 |
3,621,049 |
628,772 |
1,468,677 |
–156,520 |
65.1% |
11.3% |
26.4% |
2.8% (loss) |
|
1963 |
6,478,040 |
4,004,094 |
709,483 |
1,587,317 |
+177,146 |
61.8% |
11.0% |
24.5% |
2.7% (profit) |
|
1964 |
7,190,745 |
4,273,174 |
788,818 |
1,729,004 |
+399,749 |
59.4% |
11.0% |
24.0% |
5.6% (profit) |
|
1965 |
7,785,062 |
5,597,028 |
881,126 |
1,841,471 |
–334,563 |
70.1% |
11.0% |
23.1% |
4.2% (loss) |
The Dáil adjourned at 2.40 p.m. until 3 p.m. on Tuesday, 27th February, 1968.