Allianz announces cut in insurance rates

Allianz Ireland has today announced that it is cutting its motor rates of insurance.

Allianz says this will be its second cut this year. Rates will be reduced by a further 5% on October 1 bringing Allianz Ireland's total reduction in motor rates this year to 10.5% following a 5.5% cut in

June.

The reduced rates together with the non-implementation of a planned 6% rate increase in February are reflective of the improving motor claims environment this year, according to the company.