Using the 2014 year-end figures reported to the Prudential Regulation Authority (PRA) as a starting point, the report provides wider analysis of the underlying market dynamics and a discussion of the issues that are likely to influence profitability in the short- to medium term. We are also delighted to include an article from the Association of British Insurers, discussing its five priorities for the motor insurance industry over the course of this Government.
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Topics considered in the articles within the report include:
- Regulation and changes in legislation
- The impact of an improving economy
- Pricing strategies
- The role of reserve releases
- The opportunities and threats from new technologies
The combination of these challenges made life difficult for many motor insurers in 2014 – after having nudged into underwriting profit for the first time in 20 years in 2013. But could there be greener pastures ahead?