UK motor premiums to fall again in 2013, says Deloitte
UK motor insurance premiums are likely to fall further over the next 12 months, Deloitte has warned.
Figures presented at the firm’s annual motor insurance seminar showed that total motor insurance premiums in 2012 were worth £13.1bn, down slightly from 2011 when total premiums equalled £13.3bn.
Insurers posted a net combined ratio of 105% in 2012, a 1% improvement on 2011’s net combined ratio of 106%, according to Deloitte's research.
James Rakow, insurance partner at Deloitte, commented: “Our survey indicates that the market at present is evenly split on whether premiums will rise or fall
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