London, UK (PRWEB) September 05, 2013
During 2007-2012, gross written premiums in the UK whole life insurance sector decreased by over 55%, although resumed 8% growth in 2012. In the same year, whole life insurance density also fell sharply and totalled a value of GBP 384, whilst the whole insurance penetration represented 1.6% of the UK’s GDP. Unit-linked products make up the dominant market segment. Insurance brokers form the major channel for distribution of life insurance products in the country.
The demand for whole life insurance products is forecast to witness upward trend, driven by steady economic recovery, rising disposable incomes and increasing life expectancy. However, continued macroeconomic uncertainty is likely to constrain growth in the category and life insurers will face competition from the banking and wealth management sector offering savings and investment alternatives. Premiums in the UK whole life insurance industry are likely to grow at a CAGR of only 3.5% from 2013 to 2017. Prolonged low interest rates and regulatory changes will also affect new business volumes in the segment.
In-demand research report “Whole Life Insurance in the UK, Key Trends and Opportunities to 2017” created by Timetric has been recently published by Market Publishers Ltd. According to the study, premiums in the UK whole life insurance industry are likely to grow at a CAGR of 3.5% from 2013 to 2017.
Title: Whole Life Insurance in the UK, Key Trends and Opportunities to 2017
Published: August, 2013
Price: US$ 2,795.00
The report provides an insightful analysis of the UK whole life insurance industry. It covers the historical and present industry performance, uncovers critical information on the market size and segmentation, examines the major factors driving and restraining the market growth. The study scrutinizes the distribution channels for life insurance products in the country, reviews the recent deals, news and regulatory developments related to the industry. The report delves into the competitive landscape, uncovers details on the key market players and contains Porter’s five forces analysis. Moreover, the discussion of the future prospects for the domestic industry development through 2017 is at hand in the study.
More in-demand research studies by Timetric can be found at http://marketpublishers.com/members/timetric/info.html
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