Pearson Ham Group's February 2024 Insurance Price Index has shown an uptick in pricing across the home, motor and travel sectors. Motor pricing nudged up 0.6%, while home insurance was up 3.7% and travel increased by 4%.

Stephen Kennedy, director at Pearson Ham Group, said: “2024 promised to be challenging for insurers but the complexity of achieving consistent pricing in personal lines is already proving more difficult than initially expected.

“Recent weather-related events have sustained the upward trajectory in pricing across personal lines but the underlying disruption to the market caused by external inflationary pressures clearly continues.”