Insurance Premiums reached $804.5M in H1 2014

The consolidated results of insurance companies for H1 2014 showed that total YTD Gross Written Premium grew by 9%, during the first half (H1) of 2014, to $804.5M. Non-life insurance premium contributed a share of 71.6% of total premiums, while Life insurance contributed 28.4%. The number of YTD issued contracts in H1 2014 inched up by 3% to 1.9M, reflecting a higher insurance demand. Similarly, Total Net Investment Income added 7% to $64.5M, bolstered by the life related investments that experienced a 9% increase to $45.5M in H1 2014. Medical, Life and Motor insurance were the top premium generators with respective shares of 33.5%, 28.4%, and 20.6%. Meanwhile, in terms of claims, Medical insurance also ranked the first with 40.9% of the total, followed by Motor insurance (25.6%), and Life Insurance (21.5%).

Shares of Selected Business Lines in Total Premiums and Claims

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Source: ACAL

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