[Korea gimmingyeong financial newspaper reporter] non-life insurance industry at least among large companies announced a hike next month auto insurance premiums are an analysis that suggests not afford the insurance premium hikes.
Deposit Insurance Corporation announced the 23 days 'analysis of the potential non-life insurers cut auto premium cut of Samsung Fire' report.
Insurance industry explained that according to the new auto insurance premium rates reflect the standard terms and conditions implemented from next month for this insurance premium hikes.
However, forecasts are calculated to determine the premium cut capacity - large companies of 10 companies other than the "Edit Combined ratio (caused damages + net expense investment profit) / earned premiums), average 2.3% lower, Samsung fire late last year premiums, according to If was found that the capacity cuts.
If you modify the combined ratio appears to be lower than 100% of the break-even point and margin cuts, cuts unlikely to have exceeded it means that the insurer will report a loss. According to the forecast of Hyundai, Dongbu Insurance · KB's average adjusted if the Big Three combined ratio of 99.3% as a result of 0.7% was found that such a force.
Meritz Fire & Marine Insurance that shows the share of 5-6% in the five largest auto insurance market, the industry has shuffled the 'cut Alone' premium hikes in this matrix. Meritz Fire officials "decided to cut the judgment that there is room enough to make even considering the changed standard agreement 'he' had the power due to the loss ratio improved thanks to last year's premiums gotta raise 'he said.
11 domestic non-life insurers have recorded a net profit of 200.007 million based on last November billion. This amount is increased by 35% YoY.
Loss ratio also eased by 3% YoY (89.6%) to 86.7%.
In particular, Hyundai, Samsung, Dongbu Insurance · KB if the big three, except fire's turned out to be eased up 7% from the 88.5% to 81.8% last year.
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