Motor insurers set for widespread profit in 2024
EY has predicted the UK motor insurance market will return to profitability in 2024 following two years of losses, but that profitability will be short-lived.
According to EY’s latest UK Motor Insurance Results, a net combined ratio of 93% is forecast for 2024, following 2023’s loss-making NCR of 112.7% – the worst year on record for motor insurers.
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