Insurance, pensions and the UK economy

While the prospect of a recession is low in the UK, high levels of personal debt and lack of savings remain concerns

The economic challenges and opportunities encountered by the British economy and facing Association of British Insurers member companies were the central theme of a recent research conference in London. There was much concern over the global ripples created by the US sub-prime crisis although the consequences for the UK and for Europe were not regarded as likely to bring about a recession. Inflation reaching and possibly surpassing 3% in 2008-2009 was thought highly likely and that this would be most strongly felt in the housing market.