UK motor insurance: premiums peaked in 2003

In 2003 the motor sector experienced an encouraging resurgence in growth, holding the much anticipated soft market at bay. However, it is clear that in 2004 the market succumbed to price-competitive behavior, which had the adverse effect of a 2.2% decline in premium income. For the five years to 2004 overall though, the motor market saw gross written premiums increase at a year on year rate of 5.0%.

Source: Datamonitor, "UK Personal General Insurance" (DMFS1809)

Source: Datamonitor, "UK Personal General Insurance" (DMFS1809)