WIREDGOV

"It is clear today’s ruling will increase motor insurance premiums for women, especially young female drivers. The majority of motor claims arise from young male drivers and there is a real risk that if premiums for this group drop, it could encourage those drivers to buy more powerful cars causing even worse accidents.

"Insurers are now likely to move towards looking at how drivers actually use their cars when calculating premiums. This could lead to a steep uptake in pay-as-you-drive schemes, which charge you for the distance you drive, when you drive and potentially how you drive. This could potentially benefit women drivers who generally drive less miles than men and will lose out from today’s ruling.

"There will also be a clear impact on annuity incomes, with men facing a sizeable drop in retirement income and women potentially getting an increase. For most annuity portfolios this means that the drop in income for men is likely to considerably outweigh the increase for women.

"The concern now for insurers is whether age will be next on the European Court of Justice’s agenda. Any ruling against discriminating an insurance premium based on age would have a far greater impact on consumers and the insurance industry than today’s ruling.

"It is encouraging the industry has time to prepare for implementation, however the ruling comes at the same time as insurers are preparing for Solvency II. This will place extra pressure on company's already stretched resources."