Fewer claims help lift H1 profits by 15pc at Hibernian.

(From Irish Independent)

HIBERNIAN Group, the Irish insurance arm of the giant Aviva group, has turned in strong profit growth in the first half of 2003, primarily as a result of lower claims experience and increased market share.

Group operating profit rose 15pc to [euro]108.9m.

During the six month period Hibernian had contrasting fortunes with lower claims and growth in premiums while in life and pensions, premium income was down on weakerstock markets and the SSIA factor.

"The operating result in general insurance reflects strong premiums across the market, aswell as improving claim trends," Bryan Jenkins, Hibernian chief executive said. "Theseimprovements are due to exceptionally benign weather conditions during the earlier part of the year and reduced motor accident frequency following the introduction of penaltypoints for motor offences which initially had a favourable impact on driver behaviour," headded.

General insurance premiums were up from [euro]474m to [euro]505m with operating profitincreasing to [euro]63.3m.

Hibernian Life & Pensions had a tougher ...