Britain plans to alter the rate used to calculate upfront personal injury payments, the Ministry of Justice said on Thursday, a move which will reduce those payments and insurance premiums. Motor insurers’ profits were dented and insurance premiums have risen …
U.K. car insurance premiums rose 1.8 percent in the first quarter of 2017, with motorists now paying an average of £781 ($949), which is £110 ($134), or 16 percent, higher than average premiums paid in the same period last year, …
The earnings of U.K. insurers likely will be hit by reserve strengthening following the U.K. government’s announcement of a dramatic cut to the discount rate used to calculate lump-sum personal injury compensation, according to A.M. Best. Motor insurers and reinsurers …
A tax hike on British motor and home insurance policies effective from Sunday is set to hit consumers and could trigger a fresh round of margin-squeezing price competition among general insurers. The jump in the insurance premium tax (IPT), to …
Profit margins in the U.K. non-life insurance sector are under pressure this year as companies fight to maintain pricing discipline in an extremely competitive market, according to a new A.M. Best special report. Premium rates are falling in personal lines …
Market conditions for UK non-life insurers remain challenging as the difficult economic environment curbs demand for coverage and insurers can no longer rely on reserve releases to improve profitability, according to a report from A.M. Best Co. The report looks …
