Sutton Winson is pleased to release the latest market movements for the UK General Insurance market. The results are for the period 12 months to 31st January 2016. Our full report on the UK market will be released later this spring.
SME rating increase
On average Corporate customers enjoyed overall rating discounts of -0.70%. This compared to a moderate increase for individual's household and motor Policies. However Small to Medium Enterprises were hit hard with an average increase of 2.10% over the portfolio of commercial insurances. These increases were due to a decreasing Motor insurance capacity spurred on by pressures on repair costs, injury awards, and consolidation.
Home owners are hit hard
Above is a summary of premium movements over the past 12 months broken down by major class of insurance. Many Commercial Customers buy their insurance within a 'package' to obtain a better deal, and we have therefore also shown rating movements for the 'package' class.
Category: Commercial Insurance