"The EY ITEM Club predicts that UK insurance premium increases, after two years of sharp growth driven by high inflation, will return to average levels as cost pressures ease."
"Non-life insurance is expected to see a slight decline in premium income growth, with forecasts of 7.9% in 2024, decreasing further to 5.1% in 2025 and 4.5% in 2026."
"Falling inflation rates and improving supply chain dynamics have contributed to easing the historically sharp increases in home and motor insurance premiums."
"Demand for motor and home insurance remains robust as household income strengthens and consumer confidence grows, supported by declining interest rates and increasing wages."
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