UK insurance industry paid out £55bn in 2017

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The Association of British Insurers (ABI) has calculated that the UK insurance industry paid out £55bn to customers in 2017.

The trade body’s latest Key Facts document set out the role the UK’s insurance and long-term savings sector played in supporting consumers and companies in their financial time of need.

A breakdown of the £55bn figure includes:

£10.6bn paid out for motor claims, such as repair, replacement or personal injury. £5.2bn paid in property claims, of which £2.8bn was for

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