Title: UK Insurance Market Essentials - PowerPoint PPT Presentation

Description: The personal lines insurance market is expected to grow only very slowly over the next few years, as an incredibly competitive market flush with capacity will be unable to sustain rate hardening. A still-profitable home insurance market is under-priced for high-cost weather events, while the motor market jumped the gun on rate cuts in lieu of LASPO savings. The commercial lines market stepped into profitable territory in 2014. However, this was supported by reserve releases, and its underlying health is never clear given the heavy influence of long-tail business. Overcapacity remains but the market has started to see green shoots from improving economic conditions. GWP can now be expected to grow year-on-year. Key Findings - The total UK general insurance market grew by 0.5% in terms of GWP in 2014. - The personal lines market represented 63% of the total market in 2014. – PowerPoint PPT presentation