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RSA Insurance Group

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RSA

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RSA Insurance : responds to third IPT increase announced by UK govt

November 23, 2016 at 12:46 pm EST

RSA responds to a further increase in insurance premium tax

In response to today's (23 November 2016) Autumn Statement announcement that insurance premium tax (IPT) is set to rise again in June 2017, an RSA spokesperson said:

''We are hugely disappointed with the Chancellor's intention to increase insurance premium tax from 10% to 12% in June 2017. Today's rise means IPT will have doubled since last year, the third hike since summer 2015.'We recently welcomed the commitment by the Ministry of Justice to proceed with planned whiplash reforms, which will reduce the cost of fraudulent claims to the ordinary motorist. However, this latest increase in IPT puts the overall savings to insurance customers at risk.'

-ENDS-

RSA Insurance Group plc published this content on 23 November 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 23 November 2016 17:45:17 UTC.

Original documenthttps://www.rsagroup.com/news/press-releases/2016/rsa-responds-to-third-ipt-increase-announced-by-uk-government-in-autumn-statement/

Public permalinkhttp://www.publicnow.com/view/6D560AD06C6E587E02C9D6B83DA7319335EE04A2

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Company Profile

RSA Insurance Group plc is one of the world's leading insurance companies. Net written premiums break down by activity as follows: - personal insurance (57%); - company insurance (43%). Net written premiums break down geographically as follows: the United Kingdom (44.9%), Scandinavia (27.5%), Canada (27%) and other (0.6%).

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