STAR Assurances to curb the development of its motor insurance portfolio

On May 2nd,2019 STAR Assurances held its ordinary general meeting during which the chairman of the board of directors presented the results 2018 and made an outline of the group’s future policy.

With a 17% market share, STAR the number one insurer, intends to slow down its growth in motor insurance to 3-4% per year, compared to a current average of 10%. Despite increasing written premiums by 6.5% in 2018, the incurred losses rose by 47.5%.

In order to offset this loss of income, STAR is keen on making further investments in life and health insurance targeting both individuals and companies.