Main 'excuse' seems to be that repair costs have increased in cars, cited were new cars, EV's and big loss claims.
Supposedly the price you pay is based on personal risk, rather then everyone elses, that makes the risk and cost more associated with these drivers & cars/bikes rather than the average 'other' insured person. Clearly that is a load of *substitute appropriate word(s) here*
In 2033 a run of the mill company, Admiral, had about 300,000 LESS customers but still made a reasonable profits increase. A summary of their actual 22-23 figures is >
https://admiralgroup.co.uk/news-rele...nancial-report < and they say "We enter 2024 with much improved margins across our insurance businesses"
It's supposed to be, or projected to be by the insurers themselves, a bit of a lean year but the change in their gross measure used to justify rises isn't 30% up on last year, more like 11%.
Keep an eye on the profits of the insurers and they'll be back up to 10%+ by the end of the year.
All we can do is go Bahhh Bahhh and wait to be fleeced again