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HomeLatest NewsInsurers justify the rise in policies to guarantee their solvency

Insurers justify the rise in policies to guarantee their solvency

Date: June 25, 2024 Time: 14:07:34

The president of Mapfre, Antonio Huertas, has justified the increase in the price of premiums that insurance companies are carrying out, especially in the auto sector. Huertas recalled that the price must gradually normalize, after several years of decline due to the lower accident rate due to the pandemic, given the inflationary pressures that have been experienced and that work over time. This increase, has defended the president of the largest insurer in the country, is essential to guarantee the solvency of the sector and to give value to its shareholders.

“The adequacy of the premiums at a time like the present is necessary to guarantee the solvency of the entity”, Huertas has sentenced during his speech on the third day of the summer courses organized by the Menéndez Pelayo International University and APIE with the sponsorship of BBVA. “The price is free, but the solvency and sufficiency of the sector must be guaranteed and more if possible than if there are investors.”

During his presentation, he recorded that inflationary processes have been above 7-8% and premiums must be adapted to them. “In those insurers that have sold at a loss, they must also raise premiums”, which, although they do so later, can do so with greater intensity. The president of Mapfre has announced that premium income could exceed the record figure of 2022, when it increased by 10.8% to exceed 24,000 million euros.

Mapfre will take advantage of the banks’ inaction

During his speech, Huertas pointed out that the insurer will take advantage of the banks’ inaction in deposits after noting that customers are “eager” to find safe and profitable products and has accepted that they are registering spectacular growth. “Savings insurance, in addition to offering a good return, offers additional coverage.” In conclusion, Huertas has indicated that “they are going to continue creating attractive products taking advantage of the inaction of the banks.”

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Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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