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General Accident reports 50% increase in profit before tax

General Accident Insurance is reporting a 50 per cent increase in its profit before tax for the year ending December 31. 
 
The company posted $354 million in pre-tax profit up from $236 million in 2017. 
 
General Accident says the performance was driven by strong growth in its motor product, resulting in a 23 per cent growth in gross premiums written to $8.7 billion up from $7.1 billion in 2017.
 
The company also realised improved technical results, with underwriting profit at $181 million, representing a positive growth over the prior period's underwriting loss of $35.5 million.
 


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