EY predicts motor profitability for 2018
Changes to the Ogden rate and whiplash reforms are set to contribute to putting motor insurance back into profit.
The motor insurance market could return to profit in 2018 and break even this year according to analysis from consultancy firm EY.
The 2017 profitability is likely to be close to breaking-even at 100.8% Net Combined Ratio (NCR), compared to the previous forecast (in June) of 103.3%, said the EY predictions.
The NCR for 2018 is also expected to be solidly in the black at 98.5%; a substantial improvement on the 100.2% predicted in EY’s June’s analysis.
EY noted that the new figures follow the
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