This statistic shows the gross loss ratios of private motor insurance companies in the United Kingdom from 2006 to 2015, by accident year. Loss ratios are used to determine whether an insurance company has enough money reserves set up or not. In 2015, both the gross ULR and initial gross ULR reached a value of approximately 83 percent. This indicates there were no subsequent releases from the reserves initially set up at the end of that year. In 2014, however, insurers set up too few money reserves as even after the end of 2014 they were still using their reserves for that particular accident year.
Gross loss ratios of private motor insurance companies in the United Kingdom from 2006 to 2015, by accident year*
* According to the source, the initial gross ULR (or: ultimate loss ratio) indicated "the loss ratio recorded across the market for that accident year at the end of the accident year in question." The gross ULR denotes "the estimate of the loss ratio for that accident year as at the 2015 year-end."
The source states that "analyses were performed based on information included in the Prudential Regulation Authority (PRA) returns submitted by PRA-regulated insurance companies as at 31 December, 2015. As such, the analyses exclude the performance of insurers not regulated directly by the PRA, e.g., those registered in Gibraltar, Dublin, or other countries, or those that operate via Lloyd's".
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Statista. (September 12, 2017). Gross loss ratios of private motor insurance companies in the United Kingdom from 2006 to 2015, by accident year* [Graph]. In Statista. Retrieved November 17, 2024, from https://www.statista.com/statistics/748260/gross-loss-ratios-of-private-motor-insurers-in-the-united-kingdom/
Statista. "Gross loss ratios of private motor insurance companies in the United Kingdom from 2006 to 2015, by accident year*." Chart. September 12, 2017. Statista. Accessed November 17, 2024. https://www.statista.com/statistics/748260/gross-loss-ratios-of-private-motor-insurers-in-the-united-kingdom/
Statista. (2017). Gross loss ratios of private motor insurance companies in the United Kingdom from 2006 to 2015, by accident year*. Statista. Statista Inc.. Accessed: November 17, 2024. https://www.statista.com/statistics/748260/gross-loss-ratios-of-private-motor-insurers-in-the-united-kingdom/
Statista. "Gross Loss Ratios of Private Motor Insurance Companies in The United Kingdom from 2006 to 2015, by Accident Year*." Statista, Statista Inc., 12 Sep 2017, https://www.statista.com/statistics/748260/gross-loss-ratios-of-private-motor-insurers-in-the-united-kingdom/
Statista, Gross loss ratios of private motor insurance companies in the United Kingdom from 2006 to 2015, by accident year* Statista, https://www.statista.com/statistics/748260/gross-loss-ratios-of-private-motor-insurers-in-the-united-kingdom/ (last visited November 17, 2024)
Gross loss ratios of private motor insurance companies in the United Kingdom from 2006 to 2015, by accident year* [Graph], Statista, September 12, 2017. [Online]. Available: https://www.statista.com/statistics/748260/gross-loss-ratios-of-private-motor-insurers-in-the-united-kingdom/
