Home insurance profitability could end in 2015, warns EY
Ernst & Young says the pattern of severe weather over the last decade means bleak outlook for next year.
A seven-year run of profitability in the home insurance market could come to an end in 2015 if the last decade's weather pattern continues according to Ernst & Young (EY).
The accountants claimed the industry should still end 2014 with a profitable net combined ratio (NCR) of 98.5% after having paid out £400m to UK claimants whose homes have been damaged.
This is despite severe weather resulting in an unusually high volume of flood and storm claims in the first quarter.
Less rosy
EY's analysis of
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