|
|
|
|
|
|
 |
|
|
Geographical Distribution
of the Adjusted Gross Earned Premiums (M EUR) |
| |
|
|
| Benelux |
58.3 |
25.0% |
82.9 |
30.6% |
| Northern
Europe |
22.7 |
9.8% |
32.6 |
12.0% |
| Central
Europe |
10.5 |
4.5% |
14.6 |
5.4% |
| Southern
Europe |
140.8 |
60.5% |
140.3 |
51.9% |
| Rest
of the world |
0.4 |
0.2% |
0.4 |
0.1% |
|
The drop in premium income mainly originates
from the cancellation of proportional business
as a result of the logical application of
cycle management. A combination of continuously
decreasing insurance rates on the one hand
and increasing commissions on the other
has resulted in these treaties becoming
unprofitable. A number of cedants have converted
their proportional treaties in non-proportional
treaties. In this context Secura has chosen
to extend its non-proportional portfolio.
This explains how, despite the decrease
in premium income, the allocated risk capital
has increased.
|
|
|
|
|
|
|
|
