2013-09-05 16:52:40 - New Insurance market report from Timetric: "Non-Life Insurance in the United Kingdom, Key Trends and Opportunities to 2017"
The UK is the seventh-largest economy in the world. The global financial and eurozone debt crises led to a decline in the country's economic growth, which impacted the demand for insurance products. The UK insurance industry, the third-largest globally, decreased at a CAGR of -2.1% during the review period (2008-2012). Growing vehicles sales, and increased construction and travel activities related to the Olympic Games in London 2012 supported the growth of the non-life insurance segment. Sustained demand for compulsory insurance products such as motor insurance also added to the growth. The country's non-life segment increased at a CAGR of 3.6% during the review period. Over the forecast period (2012-2017), stable economic growth, increasing vehicle sales and improvement in the property
market will drive growth. However, increasing competition and rising claims rates, along with delays in the implementation of Solvency II, remain key challenges facing the segment.
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* The non-life segment is mature and is ranked the third-largest in Europe in terms of gross written premium.
* The country's non-life segment increased at a CAGR of 3.6% during the review period.
* Growing vehicles sales, and increased construction and travel activities related to the Olympic Games in London 2012 supported the growth of the non-life insurance segment.
* During 2012, heavy rainfall in June and July led to upward pressure on property insurance prices.
* The main distribution channels for non-life products are brokers, direct marketing and bancassurance. These channels accounted for 83.9% of total commission paid for the non-life segment in 2012.
This report provides a comprehensive analysis of the non-life insurance market in the United Kingdom:
* It provides historical values for the United Kingdom's non-life insurance market for the report's 2008-2012 review period and forecast figures for the 2012-2017 forecast period
* It offers a detailed analysis of the key sub-segments in the United Kingdom's non-life insurance market, along with market forecasts until 2017
* It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions
* It analyses the various distribution channels for non-life insurance products in the United Kingdom
* Using Porter's industry-standard "Five Forces" analysis, it details the competitive landscape in the United Kingdom for the non-life insurance business
* It provides a detailed analysis of the reinsurance market in the United Kingdom and its growth prospects
* It profiles the top non-life insurance companies in the United Kingdom, and outlines the key regulations affecting them"
Reasons to Get this Report
* Make strategic business decisions using historic and forecast market data related to the UK non-life insurance market and each sector within it
* Understand the demand-side dynamics, key market trends and growth opportunities within the UK non-life insurance market
* Assess the competitive dynamics in the non-life insurance market, along with the reinsurance segment
* Identify the growth opportunities and market dynamics within key product categories
* Gain insights into key regulations governing the UK insurance market and its impact on companies and the market's future"
Companies Mentioned in this Report: Aviva, Direct Line Group, RSA Group, Axa, Zurich Insurance, AIG, Allianz, Ageas, Bupa, Liverpool Victoria
Partial Table of Contents:
1 Executive Summary
2.1 What is this Report About?
3 Regional Market Dynamics
3.1.1 Market trends
3.1.2 Market size
4 Non-Life Insurance Segment
4.1 Scale and Penetration
4.1.1 Total market gross written premium
4.1.2 Premium per capita
4.1.3 Non-life insurance penetration (as a percentage of GDP)
4.2.1 Gross written premium
4.2.2 Gross written premium per capita
4.3 Efficiency and Risk
4.3.1 Loss ratio
4.3.2 Combined ratio
4.3.3 Incurred losses per capita
4.3.4 Incurred losses as a percentage of GDP
4.4 Distribution Channels
4.4.1 Direct marketing
5 The UK Insurance Industry Attractiveness
5.1 Insurance Industry Size, 2008-2017
5.2 Key Industry Trends and Drivers
6 Non-Life Insurance Outlook
6.1 Non-Life Insurance Growth Prospects by Category
6.1.1 Property insurance
6.1.2 Fire and allied perils insurance
6.1.3 Engineering insurance
6.1.4 Other property insurance
6.2 Motor Insurance
6.2.1 Motor hull insurance
6.2.2 Motor third-party insurance
6.3 General Third-Party Insurance
6.4 Marine, Aviation and Transit Insurance
6.4.1 Marine insurance
6.4.2 Marine hull insurance
6.4.3 Marine third-party insurance
6.4.4 Aviation insurance
6.4.5 Transit insurance
7 Analysis by Distribution Channel
7.1 Direct Marketing
7.6 Other Channels
8 Porter's Five Forces Analysis - UK Non-Life Insurance Market
8.1 Bargaining Power of Suppliers: Low
8.2 Bargaining Power of Buyer: Medium to High
8.3 Barriers to Entry: Low
8.4 Intensity of Rivalry: Medium to High
8.5 Threat of Substitutes: Low
9 Reinsurance Growth Dynamics and Challenges
9.1 Reinsurance Segment Size, 2008-2017
9.2 Reinsurance Segment Size by Type of Insurance, 2008-2017
10 Governance, Risk and Compliance
10.1 Legislation Overview and Historical Evolution
10.2 Legislation Trends by Type of Insurance
10.2.1 Life insurance regulatory trends
10.2.2 Property insurance regulatory trends
10.2.3 Motor insurance regulatory trends
10.2.4 Marine, aviation and transit insurance regulatory trends
Full Table of Contents is available at:
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