Law360, London (November 27, 2018, 5:14 PM GMT) -- Britain's general insurers face a negative outlook in 2019 amid intense competition and a high level of scrutiny from the Financial Conduct Authority, credit ratings agency Fitch has warned.
The regulator has launched a series of insurance market studies calling for action against the overcharging of long-standing customers across several markets, including home and motor insurance, the results of which are expected next year and could heap pressure on the industry to reform.
“Fitch expects the level of regulatory scrutiny from the FCA to remain high in 2019,” Fitch wrote in its yearly outlook report published Monday.
The FCA is concerned...
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