Analysis: Results season reveals mixed picture for insurers
Insurers point the finger at increased claims and unexpected Ogden rate change in a challenging year
Insurers had a bumpy time in 2019, with several pressures on costs emerging during the year. Naturally, the results period finished before the Covid-19 crisis hit.
Multiple insurers reported spiralling claims costs in their annual results, particularly around fire damage and escape of water. This pressure on the bottom line was also exacerbated by extreme weather events, such as flooding across the North of England.
A major point of contention for insurers and the industry more widely was the
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