– AM Best is maintaining its outlook on the United Kingdom (UK) non-life insurance market at Negative. Key factors underpinning the outlook include persistent pressure on operating performance due to strong competition, legislative changes, ongoing political and economic uncertainty associated with Brexit and increased regulatory scrutiny of pricing practices.
A new Best’s Market Segment Report, titled “Market Segment Outlook: United Kingdom Non-Life” states the profit margins of UK non-life insurers are likely to remain under pressure in 2019, largely due to strong price-based competition. This year, the market is also dealing with Brexit-related uncertainty, and the associated economic fallout is likely to have negative implications for UK non-life insurers’ investment earnings, claims inflation and premium volumes.
A full complimentary copy of this report is available via the following link:
AM Best Market Segment Outlook: UK Non-Life
