Best's Commentary: Outcome of Ogden Rate Review Will Be a Relief for UK Insurers
Best's Commentary: Outcome of Ogden Rate Review Will Be a Relief for UK Insurers
LONDON--(BUSINESS WIRE)--AM Best believes newly announced changes to the U.K. personal injury discount rate (PIDR), otherwise known as the Ogden Discount Rate, should be positive for the country’s non-life insurers.
In its new Best’s Commentary, “Outcome of the Ogden Rate Review Will Be a Relief for UK Insurers”, AM Best notes the new personal injury discount rate of 0.5%, announced in early December 2024, is within the expected range anticipated by U.K. insurers.
The new discount rate should ease the pressure on U.K. non-life underwriting results in what is an extremely competitive and price sensitive market. At present, it is not expected to have an impact on credit ratings.
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AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.
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Contacts
Ben Diaz-Clegg
Associate Director, Analytics
+44 20 7397 0293
ben.diaz-clegg@ambest.com
Ghislain Le Cam
Senior Director, Analytics
+44 20 7397 0268
ghislain.lecam@ambest.com
Richard Banks
Director, Industry Research – EMEA
+44 20 7397 0322
richard.banks@ambest.com
Edem Kuenyehia
Director, Market Development & Communications
+44 20 7397 0280
edem.kuenyehia@ambest.com
