Insurance DataLab has named FM Insurance – the UK arm of FM Global – as the best insurer in the UK general insurance market with an underwriting rating of 92%. The rating is generated by analysis of three core metrics – combined operating ratio, aggregate combined operating ratio over the past three years, and the improvement in the combined operating ratio for the most recent year.

DataLab named Nelson as the best insurer in Gibraltar with a score of 78% for 2023, up from 57% a year earlier. It said the insurer’s performance was driven by an improving combined operating ration that dropped 34.9 percentage points to 77.3% as Nelson made a return to underwriting profitability.

Dan King, co-founder of Insurance DataLab, said: “Insurers have faced a challenging time of late, with rampant claims inflation, increasing levels of regulation, and a difficult economic landscape creating a perfect storm. In such a tough market, we’re delighted to recognise these top achievers.”

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