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Investing.com -- AM Best, the global credit rating agency, has continued to hold a stable outlook for the non-life insurance sector in the United Kingdom (TADAWUL:4280). The details were outlined in the latest Best’s Market Segment Report, titled "Market Segment Outlook: UK Non-Life Insurance".
The recent review of the Ogden rate in December 2024 has been highlighted in the report as a factor that should ease the immediate stress on underwriting results. Additionally, AM Best has pointed out that while the adequacy of motor rates is predicted to stay sufficient, there are initial indications of softening rates that could start to impact margins.
However, the report also draws attention to certain moderating elements. The sluggish pace of the UK’s economic growth is one such factor, which is expected to persist in suppressing the demand for insurance. Furthermore, the report indicates that the rates for home insurance continue to be insufficient.
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