Motor Insurance Market results for 2016

This was posted by on June 15th, 2017

It has today been announced by EY that the net combined loss ratio for 2016 business is 109%. This basically means that for every pound insurers received in motor premium they paid out £1.09

As you can imagine this is not a sustainable business model so I can therefore see insurers looking to increase premium as they have been since the beginning of 2017

We accept some premiums may need to increase due to poor loss ratio however working with our partner insurers we will certainly be negotiating on our client’s behalf to minimize any premium increases

Unfortunately any increases will be compounded by the increase in insurance premium taxation from June 2017

If you have found that your motor premium has increased please call us on 01604 492644 and ask for Matthew or Jason who will be able to offer you terms from our panel of insurers

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