Insurance market update - July 2012
The Deloitte view for non-life insurers
As we reported last year the motor insurance industry has faced a challenging environment in which pressure comes from both supply and demand side. Following two years of high losses in 2009 and 2010 and consequent premium increases, as we predicted, 2011 proved to be a better year with the impact of the rate increases finally coming through into the results. We also gaze into the crystal ball and consider three possible scenarios of where the market will go next based on our survey of market participants.
In this edition James Rakow and Julian Leigh review the state of the motor insurance market, in particular commenting upon the underwriting results and the main divers impacting those results. We also examine areas that market participants consider to be the current issues affecting their business.