Profit after tax up 190% for short-term insurers

EARNINGS for short-term insurers nearly trebled to $13,40 million last year from the comparable period in 2015 on the back of an increase in net premium written and a cull in operating expenses, a new report has shown.

According to a report by the Insurance and Pensions Commission (Ipec), profit after tax rose from $4,62 million in 2015.

“Total profit after tax for non-life insurers increased significantly from $4,62 million for the year ended December 31 2015 to $13,40 million for the year ended December 31 2016.

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