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UK and London Market Non-Life Insurance, Trends, Outlook and Impact of COVID-19
Recorded on May 6, 2020
AM Best has maintained its negative outlook on the UK non-life sector reflecting the expectation of lower premium volumes due to a COVID-19-driven economic slowdown, as well as persistent pressure on underwriting performance from strong competition and claims inflation. Changes to the personal injury compensation system set out in the Civil Liability Act 2018 should be a positive for motor insurers' claims experience, but many of the provisions are yet to be implemented, and the majority of savings are expected to be passed to policyholders in the form of premium reductions.
In the London Market, an improving pricing environment and better underwriting discipline are expected to support performance this year. But there is considerable uncertainty as to the impact of COVID-19 claims on the market and expense ratios remain stubbornly high.
In this complimentary AM Best Webinar, analysts will discuss how these trends are affecting companies operating in the UK non-life sector, including the London Market, and provide an update on the potential impact of COVID-19 on earnings and balance sheets.
Join our panelists to discuss all these issues and much more in another insightful webinar session with leading analysts from AM Best.
- Catherine Thomas, Senior Director, Analytics, AM Best
- William Keen-Tomlinson, Senior Financial Analyst, Analytics, AM Best
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