Motor results best since 2006
E&Y warns premiums may yet have to rise.
Research by E&Y has found that year-end results for the motor insurance industry are better than expected, largely as a result of an increase in reserve releases.
The analysis by the accounts of the results of the majority of listed insurers indicated that the net combined ratio (NCR) will be around 101%, a 2.5% improvement on last year and the strongest underwriting performance since 2006.
Referral fee ban
However, E&Y warned that the strong results were heavily dependent on the referral fees
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