UK home insurers set to face drop in profitability, says EY
After eight years of good earnings, the profitability of the UK home insurance market is set to plummet as insurers prepare to experience a barely profitable 99% net combined ratio.
The amount insurers paid out in claims has risen by 6.5% since 2015 to £2.9bn. The current low interest rate environment means that claims inflation this year is expected to rise by 2.3%.
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