4:04 pm, Fri February 22, 2019

General Accident Insurance is reporting a 50 per cent increase in its profit before tax for the year ending December 31.

The company posted $354 million in pre-tax profit up from $236 million in 2017.

General Accident says the performance was driven by strong growth in its motor product, resulting in a 23 per cent growth in gross premiums written to $8.7 billion up from $7.1 billion in 2017.

The company also realised improved technical results, with underwriting profit at $181 million, representing a positive growth over the prior period’s underwriting loss of $35.5 million.