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Remaining competitive in a challenging commercial marketplace With no sign of a hardening in the foreseeable future, commercial insurers and brokers will continue to face a challenging time in 2014 and beyond. 1 http://www.insurancetimes.co.uk/Story.aspx?storyCode=1408725&source=Adestra, June 2014 2 Datamonitor Financial: UK Commercial General Insurance 2012: An analysis of the UK commercial insurance market Insurance Times analysis 1 of the past five years' data from the Top 50 Brokers has shown that, while personal lines brokers have increased their revenues and profits, commercial brokers have seen their profit margin drop by 3.2 percentage points between 2009 and 2013. One of the main reasons for this has been the rates that commercial insurers have been able to charge in the soft market. With no sign of a hardening in the foreseeable future, commercial insurers and brokers will continue to face a challenging time in 2014 and beyond. By 2016, Datamonitor Financial forecasts 2 suggest that gross written premium for the UK commercial general insurance market will only have grown sluggishly to reach £17.3bn, as insurers achieve sustainable rates.

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