Private motor insurers revert to losses in 2014, says Towers Watson
Report by firm shows the underwriting profit made by the sector in 2013 disappeared the following year.
The underwriting profit that private motor insurers reported in 2013, the only occasion in the last 20 years, evaporated in 2014 according to Towers Watson's 2015 UK Motor Insurance Industry Report.
The company said a combination of rising claims costs and falling customer prices and premium income was not good news for the industry in 2014 despite near record levels of prior year claims reserve releases.
Commercial motor insurers continued to write business at a marginal loss despite an
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