London, UK (PRWEB) October 23, 2013
Between 2008 and 2012, gross written premiums in the pet insurance sector in the UK increased by over 35%, making it the most rapidly growing category within the insurance market. The growth in the sector is spurred by ongoing advances in veterinary care and increasing veterinary fees. In 2012, around half of all households in the UK owned at least one pet. In spite of the country’s economic recession along with the squeeze on household incomes, the demand for pet insurance remained high in 2008-2012. During the same period, veterinary expenditures per household in the country grew by just over 22%. With market penetration remaining low, the national pet insurance market has a huge potential for the providers of new products. The national pet insurance market is likely to grow at a CAGR of 11.3% through 2017.
Agria International Forsakring, QBE Insurance (Europe), Ultimate Insurance Company, Direct Line Insurance Group, Allianz Insurance, Axa Insurance UK, Pinnacle Insurance, Royal & Sun Alliance Insurance Group and Zenith Insurance are amid the top players in the domestic pet insurance market.
New market research report “Pet Insurance in the UK, Key Trends and Opportunities to 2017” worked out by Timetric has been recently published by Market Publishers Ltd.
Title: Pet Insurance in the UK, Key Trends and Opportunities to 2017
Published: October, 2013
Price: US$ 2,795.00
The report provides an in-depth analysis of the UK pet insurance industry. It uncovers vital information on the market size and dynamics, examines the key factors driving and restraining the market growth, and covers the distribution channels for pet insurance products in the UK. The research study characterizes the regulatory landscape, traces the most recent deals and news, delves into the competitive landscape, and reviews the major market players and presents a snapshot of the currently available products. In addition, the report outlines the main market challenges and opportunities, as well as offers a detailed forecast for the UK pet insurance industry through 2017.
More new market research reports by the publisher can be found at Timetric page.