Standard & Poor’s Ratings Services has issued an analysis of the U.K. motor insurance industry’s reported results, which concludes that “healthy reported numbers continue to hide high releases from prior-year reserves.”
“The stable performance indicated by the headline results, as measured by insurers’ combined ratios, are supported in most cases by ever-increasing sums from prior-year reserves,” explained credit analyst Nigel Bond. “Accident-year performance for the motor market has been worsening steadily and the accident-year combined ratio has been consistently higher than 100 percent since 2003.”
The report – “Premium Rate Increases Needed To Tow U.K. Motor Insurance Industry Out Of The Red” – is available to subscribers of RatingsDirect, the real-time Web-based source for S&P’s credit ratings, research, and risk analysis, at: www.ratingsdirect.com.
If you are not a RatingsDirect subscriber, you may purchase a copy of the report by calling (1) 212-438-9823 or sending an e-mail to: research_request@standardandpoors.com. Ratings information can also be found on S&P’s public Web site at: www.standardandpoors.com.
Alternatively, call one of the following Standard & Poor’s numbers: Client Support Europe (44) 20-7176-7176; London Press Office (44) 20-7176-3605; Paris (33) 1-4420-6708; Frankfurt (49) 69-33-999-225; Stockholm (46) 8-440-5914; or Moscow (7) 495-783-4017.
Was this article valuable?
Here are more articles you may enjoy.
Insurance Broker Stocks Sink as AI App Sparks Disruption Fears 
Maine Plane Crash Victims Worked for Luxury Travel Startup Led by Texas Lawyer 
Florida Insurance Costs 14.5% Lower Than Would Be Without Reforms, Report Finds 
Insurify Starts App With ChatGPT to Allow Consumers to Shop for Insurance 
