Laura WilesThe FCA has published general insurance value measures data for the period covering January to December 2024.
Highlights from the data include that despite recent cost increases for consumers in motor and home insurance, the proportion of premiums in claims for these core products has remained consistent year on year.
The data also reflects the FCA’s interventions on guaranteed asset protection (GAP) insurance. Some firms had agreed to pause selling GAP insurance until they could demonstrate their products provided fair value to customers, and several of these were permitted by the FCA to resume selling GAP products during the reporting period.