The company gave no quantitative figures.
Direct insurance company AIG Israel reported that its auto insurance sales had jumped 10% in July, compared with the preceding month. The company also said sales of mortgage insurance had increased by 8%, compared with July 2002.
The company gave no quantitative figures, nor did it compared July’s figures for mortgage insurance with those of June 2003. AIG Israel attributed its increased auto insurance sales to the compulsory auto insurance reform, which enabled customers to separate their compulsory and comprehensive auto insurance. The company lowered its compulsory auto insurance premiums, and allowed policyholders to pay their premiums in 12 interest-free payments.
The company believes the increase in auto insurance sales is due to the shekel appreciation against the dollar, which made apartments cheaper in shekel terms, boosting apartment sales, and creating demand for mortgages.
Published by Globes [online] - www.globes.co.il - on August 13, 2003