Uk Personal General Insurance 2010 - Market Research Report On Aarkstore Enterprise
This unique report provides a detailed analysis of the UK general insurance market with a specific focus on the personal lines sector
. It segments the market by line of business and assesses underwriting profits and investment income. The research also includes an in-depth analysis of the distribution and competitive landscape and forecasts the personal lines market size to 2014.Features and benefits
-Data on the size, structure and profitability of the total non-life market and the personal lines sector.
-Insight into the different methods of distributing personal lines insurance products and the changes in the landscape.
-Analysis of the total premiums and market share for the largest personal lines insurance groups.
Highlights
Over the next few years, there will be an increasing number of motor insurers and other distributors seeking to enter the household market due to its higher profitability and lower market saturation. The new entrants to the market will increase competition and exert downward pressure on premium rates.
Underwriting cycles are visible in the insurance industry, and take place over the course of several years. The progression of these cycles is visible in the CORs shown in Figure 1 below, between 1988 and 1994 and 1994 and 2004, as well as in the total market underwriting profit/loss progressions.
In 2009, the market share held by bancassurers dropped by 4 percentage points to 13%, after remaining at around 1617% since 2005. While banks and building societies have largely held onto their share of the private motor insurance market, in 2009, their combined share of the household market saw a drop of 2 points.
Your key questions answered
How have the various forms of personal insurance been performing in terms of GWP and profitability?
Which insurers hold the highest GWP and advertising spend in 2009?
How should my insurance company be structuring their personal lines policy book?
Table of Contents :
Overview 1
Catalyst 1
Summary 1
Executive Summary 2
The personal insurance market contracted in 2009 2
The change in the top 10 personal insurance competitors is predicted to continue due to strategy and sizeable corporate partnerships 2
Total personal lines premiums are expected to grow between 2010 and 2014 3
Market Context 10
Introduction 10
Overall market deterioration was less pronounced during 2009 10
The total market COR remained steady 16
Trading results continued to fall for the total market 21
Lower reserves were released during 2009 24
Total personal insurance GWP continued to decline 25
All lines of personal insurance saw an increase in COR in 2009 27
Distribution 32
Introduction 32
Direct insurers and brokers gained market share 32
Direct Line remains the highest personal insurance advertiser 35
Just over 80% of advertising spending is channeled via TV and direct mail 37
Motor insurance continues to be the focus of the majority of advertising campaigns 40
Competitive Dynamics 42
Introduction 42
The top six personal insurers retained their positions in the market 42
The top 6-10th personal general insurers make up 15% of the personal lines market 44
Future Decoded 48
Total personal lines GWP will increase over the next five years 48
Private motor GWP is predicted to see strong growth 49
The household sector will show modest growth 52
The personal pecuniary loss market will decline further before improving 55
Accident and health GWP will see growth in the corporate healthcare space 58
Appendix 62
Definitions 62
Additional data 64
Further reading 69
Ask the analyst 69
Our Consultancy 69
Disclaimer 69
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