Sunday October 25, 2020

Motor insurance firms ‘made profits of €130 million in 2018’

Compensation took up slightly more than 40 per cent of insurers’ total income, while brokers and lawyers also earned millions in commissions and fees

11th October, 2020
Insurers paid out €580 million in compensation, a little more than 40 per cent of their total income, and took home €128.84 million in profits for the year.

Brokers and lawyers earned hundreds of millions of euro from the motor insurance market in 2018 while insurers made handsome profits of almost €130 million, an analysis has found.

Insurers paid out €580 million in compensation, a little more than 40 per cent of their total income, and took home €128.84 million in profits for the year.

Brokers alone earned €120 million in commissions while lawyers' fees totalled €130.3 million.

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader

Trial

€1

Unlimited Access for 1 Month

Then €19.99 a month after the offer period.

Get basic
*New subscribers only
You can cancel any time.

Annual

€200

€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.

Quarterly

€55

€42

90 Day Pass

You can cancel any time.

2 Yearly

€315

€248

Unlimited Access for 2 Years

This product does not auto-renew

Team Pass

Get a Business Account for you and your team

Related Stories

Despite a 50 per cent increase in Irish customers, German digital bank N26 has no plans to open an office here but will serve its customers from Berlin

Killian Woods | 18 hours ago

Central Bank review raises serious concerns about the failure of many FMCs to implement rules for governance

Daniel Murray | 5 days ago

NFP bought Dún Laoghaire firm HMP Insurance and Pension Advisers in August and is eyeing more Irish acquisitions as part of a ‘push into Europe’

Peter O'Dwyer | 3 weeks ago