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Home > News > Annual review > 08-09 >

The Annual Insurance Industry Review 2008 - 09

Industry statistics

All Business 12 months to September
Year-End	2004	2005	2006	2007	2008
Gross Written Premium ($)	2,843,300,310	2,991,934,639	3,011,273,374	3,099,077,385	3,260,456,648
Net Written Premium ($)	2,355,817,527	2,533,153,469	2,564,171,240	2,657,163,693	2,807,667,691
Net Earned Premium ($)	2,283,372,355	2,465,493,771	2,543,899,069	2,608,081,917	2,747,509,546
Claims Incurred ($)	1,435,993,453	1,505,345,266	1,609,672,399	1,736,503,436	1,880,923,174
Loss Ratio (%)	62.89 %	61.05%	63.28 %	66.58%	68.46%
Business Costs (Staff etc) ($)	631,827,986	695,741,650	762,889,565	825,984,278	897,685,308
Combined Ratio (%)	90.56 %	89.28%	93.26 %	98.25%	101.13%

Commercial Material Damage and Business Interruption 12 months to September
Year-End	2004	2005	2006	2007	2008
Gross Written Premium ($)	467,729,535	450,024,879	434,899,307	424,814,574	441,340,110
Net Written Premium ($)	277,570,590	269,227,384	250,377,553	248,966,425	277,244,142
Net Earned Premium ($)	276,852,324	264,419,695	259,798,435	249,854,108	270,404,011
Claims Incurred ($)	175,616,248	150,505,061	147,371,640	175,041,037	185,283,249
Loss Ratio (%)	63.43 %	56.92%	56.73%	70.06%	68.52%

Domestic Buildings and Contents 12 months to September
Year-End	2004	2005	2006	2007	2008
Gross Written Premium ($)	567,171,746	612,693,480	650,460,420	703,171,694	766,231,827
Net Written Premium ($)	526,273,977	567,460,544	613,482,598	662,679,754	714,632,555
Net Earned Premium ($)	515,714,410	556,581,009	599,295,472	640,728,100	687,754,814
Claims Incurred ($)	395,537,263	417,962,593	477,339,229	535,037,934	566,260,572
Loss Ratio (%)	76.70 %	75.09%	79.65%	83.50%	82.33%

Motor Commercial and Private 12 months to September
Year-End	2004	2005	2006	2007	2008
Gross Written Premium ($)	1,039,300,352	1,080,040,406	1,089,367,152	1,108,091,872	1,159,380,800
Net Written Premium ($)	999,743,136	1,048,797,392	1,057,591,852	1,080,683,184	1,128,103,360
Net Earned Premium ($)	963,820,423	1,027,933,037	1,061,862,826	1,077,998,789	1,104,655,954
Claims Incurred ($)	673,105,579	711,919,892	739,416,181	770,080,686	813,957,780
Loss Ratio (%)	69.84 %	69.26%	69.63%	71.44%	73.68%

Marine Hull and Cargo 12 months to September
Year-End	2004	2005	2006	2007	2008
Gross Written Premium ($)	111,397,160	111,855,941	105,606,534	107,516,864	113,768,514
Net Written Premium ($)	78,733,731	79,017,420	79,456,492	79,129,286	94,679,961
Net Earned Premium ($)	79,753,409	76,769,224	76,251,616	77,735,860	90,657,762
Claims Incurred ($)	34,064,514	37,700,349	50,073,714	51,332,230	61,080,313
Loss Ratio (%)	42.71 %	49.11%	65.67%	66.03%	67.37%

Liability Professional & Defamation, Directors & Officers and Public Product & Other 12 months to September
Year-End	2004	2005	2006	2007	2008
Gross Written Premium ($)	229,924,380	249,505,862	246,227,459	252,485,737	267,149,616
Net Written Premium ($)	183,692,733	212,258,744	209,527,470	219,954,010	234,968,804
Net Earned Premium ($)	173,920,406	208,768,286	208,852,711	212,870,263	236,853,174
Claims Incurred ($)	63,428,901	78,402,089	79,736,304	70,552,528	91,666,012
Loss Ratio (%)	36.47 %	37.55%	38.18%	33.14%	38.70%

Earthquake Domestic, Commercial M.D., Business Interruption and Marine Cargo 12 months to September
Year-End	2004	2005	2006	2007	2008
Gross Written Premium ($)	207,596,836	205,966,145	209,800,798	212,597,837	206,530,977
Net Written Premium ($)	115,756,806	117,868,652	116,064,812	114,429,759	95,928,127
Net Earned Premium ($)	109,184,229	121,644,727	112,504,953	111,343,908	100,074,065
Claims Incurred ($)	2,539,356	2,011,282	1,347,519	2,006,587	16,736,697
Loss Ratio (%)	2.33 %	1.65%	1.19 %	1.80%	16.72%

Other Personal Accident, Travel, Livestock and Other 12 months to September
Year-End	2004	2005	2006	2007	2008
Gross Written Premium ($)	220,180,301	281,847,924	274,911,704	290,398,807	306,054,804
Net Written Premium ($)	174,046,554	238,553,329	237,670,464	251,321,275	262,110,742
Net Earned Premium ($)	164,127,154	209,377,799	225,333,056	237,550,889	257,109,766
Claims Incurred ($)	91,701,592	106,844,003	114,387,824	132,452,434	145,938,551
Loss Ratio (%)	55.87 %	51.03%	50.76%	55.76%	56.76%

Gross Written Premiums of Business Classes 12 months to September
Year-End	2004	2005	2006	2007	2008
Commercial ($)	467,729.535	450,024,879	434,899,307	424,814,574	441,340,110
Domestic ($)	567,171,746	612,693,480	650,460,420	703,171,694	766,231,827
Motor ($)	1,039,300,352	1,080,040,406	1,089,367,152	1,108,091,872	1,159,380,800
Marine ($)	111,397,160	111,855,941	105,606,534	107,516,864	113,768,514
Liability ($)	229,924,380	249,505,862	246,227,459	252,485,737	267,149,616
Earthquake ($)	207,596,836	205,966,145	209,800,798	212,597,837	206,530,977
Other ($)	220,180,301	281,847,924	274,911,704	290,398,807	306,054,804
Total ($)	2,843,300,310	2,991,934,639	3,011,273,374	3,099,077,385	3,260,456,648

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