Motor insurance industry set to make £1bn underwriting loss, claims Deloitte
Deloitte predicts that industry will make losses in 2009 and 2010
Without the support of prior year releases the motor insurance industry could make underwriting losses of up to £1bn in 2009, says Deloitte.
Deloitte predicts that the £12bn motor insurance industry is set to make insurance losses in 2009 and 2010 and estimates that motor insurers would need to raise their premiums by 5% to replace the income lost from lower investment returns.
James Rakow, insurance associate partner at Deloitte, commented: “Results at a headline level for UK motor insurers
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