Data released by the Financial Services Commission revealed that there was a 19% jump in the revenues of the general insurance industry to $87 billion last year.
Total assets of the sector climbed to $102 billion during the same year, with investments accounting for $68 billion.
The sector's total liabilities were $65 billion, with insurance liabilities accounting for $56 billion.
The industry's capital base also increased by 3% to $37 billion.
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