Fitch Ratings predicts fall in insurer profitability in 2020
Fitch warns that the FCA's potential ban on dual pricing can lead to "significant strain" as it declares a negative outlook for UK home and motor insurers.
The outlook for UK home and motor insurers in 2020 is negative due to a high claims inflation and a weak pricing environment, according to Fitch Ratings.
The credit rating agency stated that it expected these factors to lead to a fall in insurer’s underwriting profitability.
In addition, it warned that regulatory measures to reform pricing practices could impact profitability and “put significant strain” on insurers’ business models.
Dual pricing
In October, the Financial Conduct Authority
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk or view our subscription options here: https://subscriptions.insuranceage.co.uk/subscribe
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Insurer
ANV buys Blink Intermediary Solutions owner
Recently formed ANV Group, owner of Arc Legal, Collegiate, Qualis and Abacus, has signed up to buy Blink Intermediary Solutions owner Iris Insurance Brokers.
Lloyd’s insurer targets SMEs with new cyber launch
Lloyd’s insurer Brit has launched C360, a new cyber product for SMEs which aims to give broker clients access to simple but broad cover.
Granite launches 25+ vehicle taxi fleet product
Granite Underwriting has launched a 25+ vehicle taxi fleet product, covering private hire and public hire vehicles.
Lloyd’s reveals ‘strong’ underwriting performance and ‘disciplined’ growth in 2025
Lloyd’s has revealed a 4.2% hike in gross written premium to £57.9bn in 2025, and a new five-year strategy, as pre-tax profit broke through the £10bn barrier.
CFC launches quality defect endorsement for product recall worldwide
CFC has launched a quality defect endorsement claiming it offers the ‘broadest version’ available worldwide.
Sodalis buys MGA Amiga Specialty
Sodalis Capital, the recently created investment venture focused on international insurance intermediaries, has snapped up managing general agent Amiga Specialty in a £1.8m deal that sees private equity house BP Marsh exit but keep a stake in the new owner.
Blog: The evolving role of AI in the insurance claims process
With it almost certain that AI is being used somewhere in the claims process, Simon Murray, head of insurance digital and business services at law firm DWF, tackles the upsides and the downsides, looks at what might come next and the key questions for brokers.
MGA promotes four to new head office roles
Managing general agent NBS Underwriting has promoted four people to newly created head office roles, in a move designed to strengthen the leadership team and support ongoing growth.