ABI UK insurance resilient in recession: Bus Broker and Car Insurance UK: Latest Events

ABI: UK insurance resilient in recession

The British insurance sector is holding up well, despite the recession, according to the Association of British Insurers (ABI).

Insurance accounts for approximately one-third of those employed in financial services, and 2008 saw a moderate rise of 1.3% to 313,000 individuals working in the sector.

Net premium income from general insurance rose by 3% to Ј34bn, with premium income on overseas business rising by 13% to Ј54bn.

Every day almost Ј300m was paid out, Ј239m of which was pensions and life insurance benefits with the balance made up by general insurance.

Research Director and Chief Economist Dr. Rebecca Driver has described the UK insurance sector as showing continued resilience in the recession.

However, Dr. Driver advised against complacency and urged the sector to remain competitive in order to retain its strong global position, and cautioned against regulation being made so strong it drove away business.

The ABI’s figures come after DIMA stated that Dublin’s re/insurance business has also continued to grow, defying the recession and indicating that the insurance sector generally is more robust than other parts of the financial services industry.

« Aviva sets out with-profits reattribution terms | Willis acquires 100% stake in Argentine business »

Classic Car Auto Comprehensive Options

Many students time to time query about business motorbike insurance collision in Dallas or average motorbike assurance accident for skilled drivers. The answer is simple: read the assistance "ABI: UK insurance resilient in recession" about car insurance uk: latest events and study the advices for young people from the best motorhome insurance providers.

ABI: UK insurance resilient in recession

Category Car Insurance UK: Latest Events

Car Insurance UK: Latest Events

Dublin reinsurance market keeps growing. The representative body for the international reinsurance industry in Ireland DIMA has reported a record year of premium income growth ...

CBI survey detects optimism among insurers. A new survey from the Confederation of British Industry (CBI) indicates that there are signs of growth in the UK ...

New Rent Guarantee section in jml website. As the British recession stubbornly persists and unemployment continues to climb, more and more landlords are finding that their tenants ...

• Search option on automotive website

  • Find out the most affordable deals and prices here.