The ups and downs

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Venezuela's premium growthVenezuelan premium income rose by 13.7% in real terms over 2003. The rise has been attributed to rate adjustments. Written premiums amounted to $1.77bn against $1.25bn in 2002.Insurance superintendent Luciano Omar Arias said that insured amounts increased as well. The largest premium income hike came from auto business, thanks to the sale of new vehicles. Auto liability rates are expected to rise during 2004.Claims accounted for 64.7% of the total premium income. To