UK - AM Best: negative outlook for 2019 non-life ins.
Saturday, 03 30 2019, Category: Insurance and Reinsurance, Country: United Kingdom
AM Best has maintained a “negative outlook” for the UK non-life insurance market as it is buffeted by economic and political uncertainty caused largely by Brexit.
Market analysts said insurers’ profit margins “are likely to remain under pressure in 2019” as a result of strong price-based competition.
Premium rates in the property segment have fallen despite rising claims costs, while rate improvements for motor, first seen in 2017, have “proved unsustainable”.
Source: Intelligent Insurer