There was an increase in profit at General Accident Insurance Company for the year ended December 31.

It amounted to $295 million up from $221 million in 2017.

General Accident says during the year, gross written premium grew to $8.7 billion, a 23 per cent increase over the previous year.

It reported that premium volume was driven by strong growth in the motor segment.

Net earned premiums grew by 23 per cent to $1.63 billion while claims charges declined by 5.47 per cent to a little more than $1 billion.