13 POLICY Special edition 2023 compared to a loss of 26.4 million NIS in 2021) was notable compared to other companies, and it seems that a considerable part of this achievement is related to the change, which includes a reduction in the production and commission. It seems that in the near future most of the contracts will be unproportional and they will answer only large damages. If we connect the reinsurers’ losses with the companies’ losses, we will see that the comprehensive motor insurance lost in 2022 about 2 billion NIS. Liability Insurances The field of the liability insurances transferred in 2022 about 44.7% of its production to reinsurers (2.025 billion NIS out of 4.543 billion NIS), which was similar to 2021 (1.823 billion NIS out of 4.159 billion NIS). However, following the increase in the liability insurances’ production (9% - from 4.159 billion NIS to 4.532 billion NIS), there is an increase also in the production that is transferred to the reinsurers (202 million NIS - about 11.1%). The liability insurances were an industry that historically dealt with excess losses, and a small part of it with proportional insurances. In the recent years there is a change that derives from the increase of product liability, and mainly professional liability, where the coverages are relatively large. In addition, most of the facultative insurances transfer considerable sums to the reinsurers, and in cases of large claims a certain Company Production and Reinsurance The Reinsurance Profits in Fields of Activity Year Production Reinsurance Comprehensive Motor Insurance Compulsory Motor Insurance Liability Insurance Property and Other Insurance Total Harel 2022 4,405 1,616 37% -17 -1 115 295 392 2021 3,693 1,331 36% -4 - -151 305 150 Clal Insurance 2022 3,143 1,431 46% -46 63 192 193 402 2021 2,819 1,327 47% -16 -219 -537 293 -479 Menorah 2022 3,712 1,250 34% -10 67 166 8 231 2021 3,391 1,075 32% 20 -52 39 90 97 The Phoenix 2022 3,717 1,062 29% - 24 1 222 247 2021 3,155 1,048 33% - -122 66 201 145 Ayalon 2022 2,225 836 38% 7 106 188 165 466 2021 2,046 857 42% -26 -128 -95 108 -141 Shlomo 2022 1,760 628 36% -247 -189 - -16 -451 2021 1,666 897 54% -81 -150 - 2 -229 Hachshara 2022 1,240 529 43% -5 -161 -63 -41 -271 2021 1,177 395 34% -7 -80 -43 24 -106 Migdal 2022 2,071 479 23% 2 -15 -58 106 35 2021 1,872 462 25% 2 -5 -27 128 98 weSure 2022 475 327 69% -50 -51 - 0.2 -101 2021 310 221 71% -11 -27 - 0.2 -38 Bituach Yashir 2022 1,876 314 17% 4 111 3 62 180 2021 1,711 361 21% 5 -148 -1 53 -91 Libra 2022 438 290 66% -90 -17 - 2 -104 2021 304 202 66% -48 -33 - 1 -80 Bituach Haklai 2022 527 259 49% -6 -1 20 -14 -1 2021 496 225 45% -0.3 -20 -47 26 -42 AIG 2022 1,050 185 18% - 16 - 94 110 2021 935 173 19% - -35 - 27 -8 Total 2022 26,637 9,206 35% -459 -47 563 1,077 1,134 2021 23,575 8,574 36% -168 -1,019 -794 1,258 -723 The Reinsurance Results in 2022 compared to 2021 (in Millions of NIS) Continued on the next page
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