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

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