Analysis

Briefing: Insurers face winter of discontent as sterling adds to claims woes

By Jon Guy 2022-10-12T14:09:00

pound, currency

The ups and downs of the British pound gives insurers more to think about when it comes to claims costs

If the UK insurance industry was not already reeling from soaring inflation levels, it is now set to get a battering from the continued weakness of sterling compared to other currencies across the world.

Financial information and analytics firm S&P Global Market Intelligence this month concluded that a prolonged weakened pound will only serve to exacerbate non-life insurers’ claims challenges in the UK.

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