Figures from the Financial Regulator show that profits made by companies in the Irish motor insurance market fell last year.
Total motor insurance profits fell by 38% from 2005 to €259m. The volume of motor insurance business rose by just under 1% to €1.65 billion.
Total profits in the Irish insurance market dropped last year to €718m, from just under €802m in 2005.
Insurance premiums written in Ireland were worth €37.83 billion, a 21% increase on 2005. Life assurance premiums, which account for 80% of the market, were up almost 28%, while non-life premiums were up only marginally.
