London market growth can’t halt UK insurance decline
Premium income earned by the UK insurance sector dropped for the third consecutive year in 2010. However, the London market bucked this trend with increased premium sales, according to a report from financial services advocacy group TheCityUK.
Net premium income earned by UK insurers dropped 2 percent over 2010 to £198.7bn, down a quarter from its pre-recession peak in 2007.
The decline was largely due to falling demand for long-term insurance products such as pensions and life insurance. In contrast,...
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