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Personal lines report

Insurance

LCP’s inaugural Personal Lines report considers the key drivers of recent historical performance and provides our projections of market performance over 2024 and 2025.

Shifting gears: our market outlook for UK motor and home insurance

The personal lines insurance market has faced significant challenges in recent years. Gaining a clear understanding of the broader market trends is crucial for staying competitive and relevant in the years ahead.

This report examines the key factors influencing recent market performance and offers projections for market trends in 2024 and 2025. It includes insights on premium trends, claims projections, and other elements impacting the market's net combined operating ratio. Additionally, we highlight key topics that home and motor insurers should proactively address as they approach year-end 2024.

Inside the report:

  • We have considered premiums, claims projections and other factors feeding into the market net combined operating ratio.
  • We have also recommended hot topics for home and motor insurers to proactively consider for year-end 2024.

Explore Personal lines report

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Although some stability has returned to motor trends after Covid-19 and a period of high inflation, interpreting the underlying landscape for claim frequency and severity remains very challenging.

Richard York-Weaving Senior consultant and report author

Currently, there are many challenges for UK home insurers to navigate and a proactive approach to claims trends is crucial.

Annabel Carpenter Consultant and report author

Personal lines webinar

At this webinar our experts cover a range of subjects for both motor and home insurers, including market performance, key trends and market predictions for 2024/25.

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