Insurer margins - Economic dip leads to uncertainty
Insurers have been humbled by poor results and economic uncertainty after a period of confidence in the UK market, writes Katherine Brandon
For the past seven years, the UK insurance market has been going through a period of supreme confidence. There was a peak in spending and everyone wanted a piece of the market.
Insurers and broker consolidators alike were keen to spend. Insurance Australia Group, for instance, bought Hastings Direct, Equity Insurance Group and Barnett & Barnett between 2006 and the start of this year. However, poor results, the economic downturn and the lack of rate hardening have conspired to humble much of the
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