British motor insurance is in the red

The motor insurance market is loss-making in Britain, despite a tariff increase of 10%. The combined ratio for this class of business was 120% in 2010 and is poised to reach, at best, 113% by end of 2011.
Underwriting deficit was 2.2 billion EUR (2.915 billion USD) in 2010. No prospect of profit is expected before 2012.

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