Higher earned premiums for life insurance

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In 2016, life insurance companies had a 2.5 per cent increase in their gross premiums compared to the year before. Non-life insurance companies had an increase in their earned premium income of 0.1 per cent.

Motor vehicle insurance services had a decrease of 1.3 per cent in 2016, while claims incurred increased by 1.3 per cent.

Figure 1. Premiums and claims incurred, non-life insurance industry
Figure 1. Premiums and claims incurred, non-life insurance industry
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Premium income 29612 32739 36432 38021 41267 43170 42274 49348 50500 52321 54580 57514 60142 63465 65702 66413
Claims incurred 26137 25620 27278 25610 28307 29453 28099 35121 36817 37351 39523 39906 41569 42637 46057 45104

Increase in premiums written for life insurance

Premiums written for life insurance increased by 2.5 per cent from 2015 to 2016. During the same period, gross claim payments increased by 4.1 per cent.

Increase in premiums written for defined contribution pension schemes

Defined contribution pension schemes have the largest share of the premiums written and gross claim payments for life insurance. From 2015 to 2016, premiums written for defined contribution schemes increased by 11.8 per cent, while gross claim payments increased by 5.8 per cent.

Figure 2. Gross premiums written and gross claim payment, life insurance industry
Figure 2. Gross premiums written and gross claim payment, life insurance industry
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Gross premiums written 39214 43847 53997 60714 60476 68503 68168 64934 66489 71690 82102 81765 92809 91794 94093
Gross claim payment 21479 22439 24954 29030 35997 57642 54151 35184 40566 40345 44190 45113 46783 49242 51255

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