News

Motor market grew GWP by 25% in 2023 – Oxbow Partners

By 2024-05-22T06:00:00

motor, money (2)

Sector set to be more profitable in the year ahead because it ‘is pricing much more effectively for costs they have to suffer’, says head of market intelligence

Average gross written premium (GWP) in the UK motor insurance market grew by 25% in 2023, reaching “a level not seen in recent memory” as insurers grappled with the ramifications of claims inflation.

This is according to the latest edition of business management consultancy Oxbow Partners’ Motor Market Report 2024, which is due to be published tomorrow (23 May 2024).

Read more…

Explore more motor-related stories here, or discover more news articles here

You need to register to continue reading the rest of this article and more for free.
(If you’re already registered, please sign in here.)

REGISTER NOW FOR FREE

We’re glad you’ve chosen Insurance Times as your source for industry news and hope you’ve been enjoying reading articles from our award-winning team of journalists.

Gain access to more of our exclusive, breaking stories, interviews and news analysis as it happens. Registering is quick, easy, free, and will also have the additional benefits:

  • Uncover Secrets: Dive deep with exclusive annual reports, fueled by expert insights.
  • News That Matters: Award-winning coverage & analysis, delivered to your inbox.
  • Stay Ahead, Your Way: Daily or weekly - choose your news rhythm.
  • Own Your Learning: Curate your knowledge with a personalized library.

Register for FREE now and Keep Reading

Stay on top of the insurance game with our subscription! Get unlimited access to over 80,000 articles, in-depth analysis, exclusive reports by industry experts, and our Five-Star rating system to compare companies and find the best fit for your business needs - view subscription options.