Europe’s motor insurance witnessing difficult times

Motor insurance has not been profitable for European motor insurers in these recent years. S&P is forecasting the return to profitability of the British market as of 2012 while German and French markets will have to wait for positive results until 2013.
In France, S&P has appreciated the recent tariff increase which is likely to offset the increasing loss experience. According to the rating agency, only price adjustments can offset French slow GDP growth and the poor performance of the current financial investments.
Combined ratio has reached 109% for this class of business in 2009 and is poised to go down to 102% in 2011 and 2012. Premium growth will reach 3% in 2011 and will stabilize in 2012.

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