Dude wrote:

I have heard lots of people saying premiums equals claims.

Those people are wrong. Insurance companies take in premiums, invest the money,
and make or lose money on the investments. If they are losing money on their
investments, premiums may well be increased to provide more income regardless of
the amount of claims in the same time period.

In the long run, most insurance companies will take in less money in premiums
than they pay out in claims. During periods in which investments are performing
poorly, premiums will usually go up.

George Patterson
If a man gets into a fight 3,000 miles away from home, he *had* to have
been looking for it.