Profits increase as price of motor premiums fall

The NCID report shows that while the price of motor premiums has fallen since their peak in mid-2018, they remain significantly above the low point recorded in 2013. File picture: Larry Cummins

Motor insurers in Ireland will come under renewed pressure to cut premiums after a Central Bank report detailed the industry increased profits last year.

The National Claims Information Database (NCID) report shows that while the price of motor premiums has fallen since their peak in mid-2018, they remain significantly above the low point recorded in 2013.