Collective profit at motor insurers

%VIRTUAL-SkimlinksPromo%Britain's motor insurers have made their first collective annual profit in 20 years amid signs that a clampdown on fraudulent claims is starting to have an effect.

According to consultants at EY, they paid out £98.50 for every £100 received in premiums last year in only the second time the sector has swung to profit since its study began in 1985.