Allianz Church & General, the country's third-biggest general insurer, has once again called for strong measures to be taken to reduce the number of road accidents and stricter enforcement of road safety laws "if we are to reduce the number of accidents and consequently the cost of insurance".
Speaking after the publication of the group's half-year results, Allianz chief executive Mr John O'Hanlon said: "It is simply not acceptable that the current level of road traffic incidents and the tragic loss of life continues."
Earlier this year, Allianz Church & General said that the cost of motor insurance - which accounts for 43 per cent of its book - would rise 510 per cent across the board.
The State's biggest motor insurer, Axa - which owns Guardian/PMPA - has also increased its rates by 5 per cent.
Mr O'Hanlon said that while Allianz Church & General had a good first half, reflecting the strength of the Irish economy, the group suffered from higher-than-expected claims inflation. Allianz Church & General was able, however, to report a strong first half with operating profits up 40 per cent to €8.5 million (£6.7 million) even though gross premiums rose by only 10 per cent to €255.7 million (£201.4 million).
Investment income at £17.9 million was almost unchanged from the first half of 1999.
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