Non-Life Insurance in the United Kingdom to 2017: Market Size, Share, Analysis, Growth, Trends And Forecast Research Report Available Online By ResearchMoz
Albany, NY (PRWEB) September 24, 2013 -- 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.
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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.
Scope
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
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Reasons to buy
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
Related Reports -
2020 Foresight Report: Operational Efficiency in Non-Life Claims -
Globally, non-life insurance companies have been registering increasing payouts on account of claims. To deal with this situation, non-life insurers have been taking measures to make their claims management processes more efficient to reduce claim payouts and to curb claims-handling expenses. Non-life insurers are employing advanced technologies to improve their claims management processes. One of these technologies is integrated claims management systems (ICMSs). Non-life insurers have been implementing ICMSs to ensure that they can keep in contact with customers through the customers' preferred devices. ICMS are also being employed to gain a clearer view of claims data, which will help in identifying fraudulent activity. Download Detail Report - http://www.researchmoz.us/2020-foresight-report-operational-efficiency-in-non-life-claims-report.html
Life Insurance in the United Kingdom to 2017
Life insurance was the largest segment in the UK insurance industry in 2012, accounting for 70.4% of total industry premiums. It is also one of the largest life insurance segments in Europe in gross written premium terms. The impact of the financial crisis, and subsequent European debt crisis, during the review period (2008–2012) resulted in a decline in consumer confidence. This decline adversely affected the demand for long-term insurance products, resulting in an overall decline in the UK life segment. However, the segment is expected to record growth over the forecast period following various initiatives taken by the government and life insurers. Life insurance products are predominantly distributed through brokers, with this channel accounting for 66.2% of the segment’s new business written premiums in 2012. The segment’s value declined at a review-period CAGR of 3.9%, however, the segment is expected to record a forecast-period CAGR of 1.5%. Click Here To Download Detail Report - http://www.researchmoz.us/life-insurance-in-the-united-kingdom-key-trends-and-opportunities-to-2017-report.html
Reinsurance in the United Kingdom to 2017 -
The UK reinsurance segment declined during the review period (2008−2012) on account of financial crisis, which led to a double digit decline in the segment in 2009. Following the crisis, the segment posted respective annual growth rates of 2.0%, 2.7% and 1.9% in 2010, 2011 and 2012. This was due to the increasing costs of reinsurance and the market’s gradual consolidation, which enabled reinsurers to better manage their capital requirements and risk. The segment is expected to grow moderately at a review-period CAGR of 2.6%. Click Here To Download Detail Report - http://www.researchmoz.us/reinsurance-in-the-united-kingdom-key-trends-and-opportunities-to-2017-report.html
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