Towers Watson warns of difficult 2013 for UK motor market
Report reveals some improvement in 2012 but highlights impact of legal reforms.
The UK motor insurance industry is being “dragged back into choppier territory”, according to research carried out by Towers Watson.
The company used 2012 year-end figures reported to the Prudential Regulation Authority to conduct a broad analysis of underlying market dynamics and stated: “The good news is that the 2012 overall combined operating ratio (COR) was an improvement on 2011.”
Commercial motor showed the most improvement throughout 2012, with COR improving by almost 5% from 107.4% to
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