EY predicts three years of slowing premium income growth for insurers

Statistics stats graphs technology

EY has forecast UK non-life insurance premium income growth will slow to 7% in 2024, from 8.7% in 2023, dropping again to 5.1% in 2025 and 3.8% in 2026.

The specialists flagged that while the growth will be “reasonably strong” this year the decline will be particularly seen in motor.

The expectation for a tailing off in growth as inflation falls was released in the latest EY ITEM Club Outlook for Financial Services.

According to the consultants, although falling inflation is likely to mean increases in insurance premiums will be smaller, it should prompt a wider rise in real incomes. This, EY suggested, would support greater demand for big ticket

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.

You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Insurance Age? View our subscription options


Sign up and gain access to five complimentary news articles every month.

Already have an account? Sign in here

This address will be used to create your account

Interview: Sabre CEO Geoff Carter

Sabre boss Geoff Carter tells Insurance Age about the upsides for brokers from its IHP rollout, growing in motorbikes after the collapse of MCE and profitable expansion plans in taxi.

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: