Best's Market Segment Report: AM Best Revises Outlook on UK Non-Life Insurance Segment to Stable From Negative
April 29 2024 - 3:00AM
Business Wire
AM Best has revised its market segment outlook on the
United Kingdom’s non-life insurance segment to stable from
negative.
In its new Best’s Market Segment Report, “Market Segment
Outlook: UK Non-Life Insurance”, AM Best cites a number of drivers
for the move, including falling inflation, which should ease the
upward pressures on claims costs.
In addition, significant price corrections in personal lines
should pave the way for close to breakeven underwriting results,
while market conditions in the commercial and specialty sector are
expected to remain favourable. Higher interest rates should also
allow the market to lock in robust investment returns for the
short-to-medium term.
Moderating factors include the increased cost of reinsurance,
which has led a number of insurers to restructure their protection
and increase their retentions. This has increased the risk of
potential earnings volatility and uncertainties around the outcome
of the upcoming Ogden rate review.
To access a complimentary copy of this market segment report,
please visit
http://www3.ambest.com/bestweek/purchase.asp?record_code=342429.
AM Best is a global credit rating agency, news publisher and
data analytics provider specialising in the insurance industry.
Headquartered in the United States, the company does business in
over 100 countries with regional offices in London, Amsterdam,
Dubai, Hong Kong, Singapore and Mexico City. For more information,
visit www.ambest.com.
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Ben Diaz-Clegg Associate Director, Analytics
+44 20 7397 0293 ben.diaz-clegg@ambest.com
Ghislain Le Cam Senior Director, Analytics +44
20 7397 0268 ghislain.lecam@ambest.com
Richard Banks Director, Industry Research – EMEA
+44 20 7397 0322 richard.banks@ambest.com
Edem Kuenyehia Director, Market Development &
Communications +44 20 7397 0280
edem.kuenyehia@ambest.com