Datamonitor predicts strong growth for personal GI market

Green shoots in the palm of the hand

The personal general insurance market contracted by 2.6% in both 2008 and 2009, when it accounted for £25.6bn in gross written premiums (GWP).

However, Datamonitor said it believed that the market had returned to growth this year and would show a marginal increase in GWP of 0.5% across personal insurance lines.

The analyst added that this would be followed by strong growth of around 3% out to 2014 when Datamonitor forecasted that the market size will reach £29.2bn in 2014. At least a proportion

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