UK - Competition & Brexit main challenges
Thursday, 04 05 2018, Category: Insurance and Reinsurance, Country: United Kingdom
Rating agency A.M. Best’s outlook on the UK non-life insurance market is negative as intense market competition persists in the face of uncertainties from legislative changes and the impact of Brexit.
These factors account for a difficult operating environment and consequently A.M. Best forecasts earnings for non-life insurers could take a hit over the medium term.
However, the sector is well placed to withstand the challenges ahead with robust capitalisation and strong risk management capabilities, the rating agency believes.