Glad to see that Allianz Cornhill is showing a united front on the issue of whether the market is softening or not. But as to what lies behind that view, well, there is more than one story.

At a recent presentation, Backchat heard commercial supremo Chris Hanks's views on private motor claims inflation. He said it was runn ing ahead of premium inflation, but two minutes later his boss, Andrew Torrance, said it was running below premium inflation. Confused?