EY revises insurer income growth forecasts but trend remains down
EY has released improved premium income forecasts for UK non-life insurers but maintained its view of slowing growth in 2024, 2025 and 2026.
According to the specialists, there will be 7.9% growth in 2024, an improvement on the previous prediction of 7%, but still below the 8.8% rise in 2023.
The expectation for 2025 has stayed at 5.1% while 2026’s figure has ticked up by 0.7% to 4.5%.
Both suggestions are still above the average growth rate of 4% recorded between 2010 and 2019.
InflationThe consistent declining outlook came as cost pressures are easing after high inflation drove sharp premium increases in the last two years.
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