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Brexit, pandemic weigh on U.K. insurers

Market outlook


Ratings agency A.M. Best & Co. Inc. has maintained its negative outlook for the U.K. non-life insurers and reinsurers, citing economic uncertainty, COVID-19 lockdown measures and Brexit as main reasons, Reinsurance News reported. AM Best added these factors have created the biggest economic contraction on record and will maintain pressure on premium income going forward. It expects risk-adjusted capitalization in the property and casualty segment to be resilient.

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