VIS: Combined Ratio and Investment Returns in August 2020

The combined ratio* was 93.1% for the month of August 2020 and stands at 108.9% for the year so far. The trailing 12-month combined ratio is 104.6%. We continue to see signs of a reduction in frequency of losses which was reflected in the August combined ratio.

In August, VIS paid out almost ISK 1.2 billion in claims** to its customers and has paid just under ISK 11.4 billion in claims for the year so far.

Investment returns were 1.1% in August, and are 6.0% from the beginning of the year to the end of August.

*The combined ratio measures the ratio of claims losses, reinsurance costs and underwriting-related operating expenses as a percentage of premiums earned, in accordance with Guidelines No.1/2020 issued by the Financial Supervision division of the Central Bank of Iceland.

**It should be borne in mind that claims losses incurred by insurance companies are subject to monthly fluctuation.

For further information, please contact Erla Tryggvadóttir, Director of Communications, at +354 660 5260 or erlat@vis.is.

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VIS Insurance Ltd. published this content on 25 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 September 2020 08:34:04 UTC