UK commercial market set to outperform the personal market

While the commercial general insurance market contracted in 2006 as a result of high competition, conditions deteriorated in the personal general insurance market with gross written premiums (GWP) for the major personal lines – private motor, household property and individual accident and health – only rising by 1.4%. Softer market conditions are now expected to lead the personal general insurance market to record a compound average growth rate (CAGR) of 4.8% each year between 2007 and 2012,

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