Operating profits at Hibernian Insurance are up 21 per cent in the first half of the year. Profits for the six months to the end of June stood at €150m compared with €123.7m for the same period last year.
New business at Hibernian's Life and Pensions division climbed 16 per cent to €74.2m but the company's general insurance premium income was down.
"In general insurance profits grew despite a fall in premium income," said Hibernian's CEO, Bryan Jenkins. "This strong result reflects a combination of disciplined underwriting and lower claims costs" he said.
Hibernian's British parent, Aviva reported a 21 per cent rise in first-half core profits to £1.3 billion.
The increase - up from almost £1.1 billion on the same time last year - was fuelled by strong earnings from its general insurance business, Aviva said.
Overall, Aviva's life operating profit rose 5 per cent to £857 million, but profit in the United Kingdom, its single largest market, fell 5 per cent, as sales dropped to £4.2 billion from £4.3 billion in the same period last year.
Aviva is relying on cost cutting and higher sales in its continental European life business to drive profits.
Aviva said its combined ratio, a key measure of general insurance underwriting profitability, had improved to 95 per cent from 97 per cent amid low claims and a tight lid on costs.