Companies have recorded a staggering 1,300% growth in profits, while car, home and business insurance continue to rise.
Much of these profits came from motor insurance policies, with insurers making profits of €125m from private and commercial customers, Independent.ie reports. Although a slight decrease has been recorded recently, motor premiums are still 50% higher than in 2008.And insurers also cleaned up on property insurance, making combined profits of a whopping €84.3million in 2017.He said: "It is time they started sharing the profits with the rest of us. They have a captive market in motors and they charge what they like."Our Irish Mirror Sports page - which brings you all your Irish and UK sports news - can be found here.
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