Insurance figures for 2015 may indicate improving economy

By JOY WHITE

Journal Staff

 

Guam’s insurance industry saw increases in the amount premiums written as well as the amount of losses paid from 2014 to 2015 in all classes of insurance, according to figures released from the Department of Revenue & Taxation on Sept. 29.

In 2015, a total of $528.7 million in premiums were written and $518.6 million was earned, offset by losses incurred and losses paid of $361.5 million and $319 million, respectively, for a loss ratio of 61.5%. By comparison, $491.4 million in premiums were written and $486.7 . . .

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