Irish road accidents down by one-fifth...
April 30, 2012
The number of accidents on Ireland’s roads fell by more than one-fifth in the first quarter of 2012, as economic pressure reduced motorists’ use of their cars. As a result, Irish general insurer FBD Holdings reported an improved loss ratio amid a warning the country’s insurance market contracted in the first quarter of this year in line with the country’s economy. Also contributing to the year-on-year improvement in loss ratio was a combination of benign weather conditions and the group’s more disciplined risk selection; although from a particularly low level a year ago, the frequency of large claims “reverted towards the norm” this year although still remained in line with expectation. ...