EY predicts motor market to return to loss again in 2025
The UK motor insurance market is expected to be profitable in 2024, following two years of losses, but then revert back to red ink, according to EY’s latest UK Motor Insurance Results.
A Net Combined Ratio (NCR) of 93% is forecast for 2024, deteriorating to 101.6% in 2025.
The brief period of profit will follow 2023’s loss-making NCR of 112.7% – the worst year on record for motor insurers. But one which was not as bad as EY had originally envisioned this time last year when it thought the figure could be as bad as 114.6%.
High claims, material, and labour costs, alongside premium rates sitting below claims inflation levels, meant 2022 and 2023 were particularly difficult years
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 Personal
News analysis: Why are more brokers competing for brand and affinity partnerships?
A number of brokers have recently announced tie-ups with household brands to distribute insurance. Ida Axling explores the benefits these affinity deals bring for intermediaries and their partners, and the prospects for future growth in the brand-insurance space.
Ageas posts higher UK premium amid deal effects starting to kick in
Ageas grew UK premium by 6% to €1.93bn (£1.68bn) last year with the insurer noting a “solid UK result despite [the] softer market”.
Hiscox grows UK book even faster in 2025
Hiscox’s growth momentum has accelerated again in the UK, with the insurer excited about its results and even “more excited about the future” with brokers, according to group chief underwriting officer Joanne Musselle.
Movo picks Applied for personal lines panel on Quote Portal
Movo Partnership has teamed up with Applied Systems to power its Quote Portal providing network brokers access to insurer and MGA personal lines schemes for full-cycle EDI trading.
Moneysupermarket insurance revenues fall amid 2025 ‘headwinds’
Insurance revenue at Moneysupermarket fell 1% in 2025 to £232.5m driven by a 9% drop in car insurance, and home also declining.
MoneySuperMarket claims UK first with insurance ChatGPT app
MoneySuperMarket, has launched a financial services and price comparison service ChatGPT app, claiming it is the first in the UK and flagging the impact on motor insurance.
SRG broker to wholesale pothole damage cover
Strategic Insurance Services has launched a vehicle insurance product designed to cover damage caused by potholes, making it available to brokers on a wholesale basis for private motor and commercial fleet clients.
Property insurance payouts hit record £6.1bn in 2025 – ABI
Insurers paid out £6.1bn in property claims in 2025, the highest annual total on record, according to the Association of British Insurers.