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UK motor insurers to expect losses in 2022 and 2023: EY

July 5, 2022

Losses are predicted in 2022 and 2023 for the UK motor insurance market due to underlying inflation and premium rate falls, according to EY’s UK Motor Insurance Results.

The professional services firm predicts that the sector’s net combined ratio (NCR) will be loss-making 113.8% and 111.1% in 2023.

Last year, the industry recorded a NCR of 96.6%, which followed a NCR of 90.3% in 2020 – the industry’s best ever result according to EY.

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