ABI: Insurers pay out £300m a day
Latest figures show that the insurance industry is weathering recession
Figures released by the ABI (Association of British Insurers) show that the UK insurance industry remains strong overall.
The main findings included that the number of people employed in the sector in 2008, 313,000, had risen slightly (by 1.3%) over 2007, and accounted for nearly a third of all financial services jobs. Net premium income from general insurance in 2008 was £34bn, up 3% on 2007 and premium income for overseas business during 2008 was £54bn, up 13% on 2007.
The results revealed
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