Gender Directive to hit motor market profitability
The ECJ Gender Directive, which comes into force on 21 December, could reduce the overall profitability of the UK motor insurance market by 2% next year, experts have warned.
According to Ernst & Young the motor insurance market was expected to come close to breaking even this year after failing to make an underwriting profit since the early 1990s. However the accountants added that, when the Gender Directive comes into play, along with other legislation, it will make an underwriting profit even harder to achieve.
Catherine Barton, partner in Ernst & Young's financial services team, commented: "At best the market will only just break even this year and the Gender
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