Insight and Intelligence on the London & International Insurance Markets 15 Dec 2017

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Ogden change could save (re)insurers $3.3bn: EY

  • Laura Board 7 September 2017
  • UK government proposals to reform the way the Ogden rate is calculated could save the (re)insurance industry £2.5bn ($3.3bn), according to Ernst & Young (EY).

    The Ministry of Justice said earlier today the government had drafted legislation that would, based on current conditions, translate into an Ogden rate of between 0 percent and 1 percent.

    The bill has yet to be approved by parliament and the changes are unlikely to take effect for several months.

    EY had earlier this year...

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