The UK home and motor insurance markets are expected to achieve profitability this year due to low claims levels, but will fall into the red in 2022, according to EY’s latest analysis. Significant uncertainty lies ahead, as increased remote and hybrid working impact claims patterns along with ongoing trend of claims inflation.But 2022 expected to be loss-making for both insurance lines of business as inflation remains high and premium rates are suppressed due to FCA pricing reforms.
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