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flag UK motor insurance market rebounds in 2024, set to be profitable but faces losses next year.

flag After two years of losses, the UK motor insurance market is predicted to be profitable in 2024 with a Net Combined Ratio (NCR) of 93%, according to EY. flag Premium rates are expected to rise by 12% this year but will drop by 2% in 2025, saving consumers an average of £7. flag Despite the current rebound, the sector faces a return to losses in 2025, with an NCR of 101.6%, due to high claims and costs.

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