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Tue 09 Sep 2008Profits from car insurance jump 38% as claims decline
PROFITS ACROSS the insurance industry fell marginally in 2007, though profits from motor insurance jumped 38 per cent as the cost of claims declined.
Motor insurance companies recorded profits of €357.3 million in 2007 - an increase from €258.7 million the previous year - as the cost of claims fell to €889.4 million from €1.037 billion, according to the Insurance Statistical Review, the annual report on the industry previously known as the Blue Book, published by the Irish Financial Services Regulatory Authority.
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