Motor market records best year since 1985 ahead of troubled future, says EY
FCA pricing investigation and Civil Liability Act are expected to depress profitability in future years.
The UK motor insurance market had its best year in 2018 since records began, according to Ernst & Young (EY).
The net combined ratio for 2018 was 94.8%, which marks a 2% improvement over 2017, and the best result since EY began tracking the market in 1985.
EY partly credited the strong performance in 2018 to premium strengthening in 2017.
Ogden
The firm also noted that insurers were releasing their reserves in expectation of an improved Ogden discount rate being announced in August, with many
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