Oxbow predicts profitable motor market CORs for 2025 and 2026
Oxbow Partners has forecast a combined operating ratio for the UK motor market of 93% for 2025 and 96% for 2026, which would mark three consecutive years of profit for the sector.
The specialists calculated the market swung back to profitability in 2024 with a COR of 90%, better than the predicted 94%.
According to the experts, the outperformance was almost entirely due to the higher than forecast earned premiums across the market after a “step change” in pricing in 2023.
The market’s pre-tax profit came in at £1.53bn.
Oxbow noted that last year, average premium growth surpassed CPI inflation for the first time since 2017.
In the 12 months, gross written premiums climbed by
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