Irish motor insurers profits have soared by 12% despite a 26% drop in the number of claims by drivers last year.
Analysis by the Central Bank also shows the average insurance premium fell by 7%.
The amount they paid out in claims by customers fell by 20%.
Director of Economic and Statistics at the Central Bank, Mark Cassidy, said the drop in claims was in line with reduction of road use during lockdown.
He says the average cost of claims paid per policy was higher than the previous year, which contributed to profits.
Last year, the cost of injury claims went up 18%, while the cost of damage claims rose by 3%.
