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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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