AM Best [4] has maintained its negative outlook for the UK non-life insurance market.
The rating agency based its decision on a range of factors that undermine insurers' performance, including high inflation, supply chain disruptions, market exposure to natural catastrophe risks and rising reinsurance costs.
AM Best expects these factors to persist into 2023 and to continue to place a significant burden on UK-based insurers' profitability.
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[3] https://www.atlas-mag.net/en/issue/atlas-magazine-n-200-april-2023
[4] https://www.atlas-mag.net/en/article/am-best-rating-scale