UK Motor Insurance Market Trends Report 2021

This report looks at the consumer (or personal lines) motor insurance market, where motor insurance is defined as insurance which covers individuals against the cost of repairing or replacing a vehicle and costs that arise due to injuries caused to other people and damage to their vehicles. Depending on the policy purchased, insurance may also cover the contents included within the vehicle.

Report Highlights

In 2019, IRN Research estimate the motor insurance market generated gross written premiums (GWP) of just over £14.2 billion, a rise of around 2% over 2018.  Given the impact of COVID-19 on the market, IRN expect GWP to decline by 8% in 2020.  Key factors behind this decline were premium rebates given to customers by some leading insurers; premium rate reductions reflecting reduced claims frequency; reduced demand for car insurance in the lockdowns.

The briefing (54pp, PDF), is available directly from IRN Research, priced at £200. 

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