Moody’s stays negative on outlook for UK insurance
Ratings agency Moody’s has kept its negative outlook on the prospect for UK property and casualty insurance warning of higher reinsurance costs and pressure on personal lines margins as price growth lags inflationary cost increases.
The specialists noted that commercial insurance pricing is healthier, but stated price growth has peaked and claims inflation may trigger additional reserve contributions which would hit earnings.
Insurance Age’s Acturis stats for the second quarter of 2023 showed the Commercial Broking Index rose 5.9% compared to the same quarter last year.
CommercialAccording to Moody’s, commercial insurers have been able to push through bigger price increases than retail players, reflecting reduced
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