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Irish insurers still culling reserves

World Insurance Report

Irish insurers still culling reserves

Despite reserve increases and suffering the worst motor losses in the market, Quinn Insurance was still the most profitable non-life underwriter in Ireland in 2008

The Insurance Statistical Review for 2008 published by IFSRA, the Irish insurance regulator, shows that the market’s motor reserves fell by €187.6mn ($276.3mn) during the year while paid claims increased by 16.7% to €1.3bn ($1.9bn).

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