Naperville, IL -- (SBWire) -- 11/05/2013 --Reportstack, provider of premium market research reports announces the addition of Life Insurance in the United Kingdom, Key Trends and Opportunities to 2017 market report to its offering
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 segments new business written premiums in 2012. The segments value declined at a review-period CAGR of 3.9%, however, the segment is expected to record a forecast-period CAGR of 1.5%. Growth will be driven by improvements in the UKs economy, with IMF estimates expecting GDP to grow at a forecast-period CAGR of 2.2%. In addition, the expected implementation of Solvency II in January 2015 will result in stricter solvency and capital requirements, better risk management and higher profits.
Scope
This report provides a comprehensive analysis of the life insurance segment in the United Kingdom:
It provides historical values for the United Kingdoms life insurance segment for the reports 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 Kingdoms life insurance segment, along with 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 life insurance products in the United Kingdom
Using Porters industry-standard Five Forces analysis, it details the competitive landscape in the United Kingdom for the life insurance business
It provides a detailed analysis of the reinsurance segment in the United Kingdom and its growth prospects
It profiles the top life insurance companies in the United Kingdom, and outlines the key regulations affecting them
Reasons to Buy
Make strategic business decisions using historic and forecast market data related to the UK life insurance segment and each sector within it
Understand the demand-side dynamics, key market trends and growth opportunities within the UK life insurance segment
Assess the competitive dynamics in the life insurance segment, along with the reinsurance segment
Identify the growth opportunities and dynamics within key product categories
Gain insights into key regulations governing the UK insurance industry and its impact on companies and the market's future
Key Highlights
Life insurance was the largest segment in the UK insurance industry in 2012, accounting for 70.4% of total industry premiums.
The segments value declined at a review-period CAGR of 3.9%, however, the segment is expected to record a forecast-period CAGR of 1.5%.
The RDR was implemented by the Financial Conduct Authority (FCA) and includes measures designed to implement professional standards for insurance advisers, as well as regulate both commissions earned, and fees paid by, financial professionals.
Life insurance products are predominantly distributed through brokers, with this channel accounting for 66.2% of the segments new business written premiums in 2012.
Companies Mentioned
Aviva Life Plc
Standard Life Plc
Lloyds Banking Group
Legal & General
Aegon NV
Prudential
Friends Life
Zurich Financial Services
Royal London Mutual
Old Mutual Plc
To view the table of contents for this market research report please visit
http://www.reportstack.com/product/140643/life-insurance-in-the-united-kingdom-key-trends-and-opportunities-to-2017.html
Life Insurance in the United Kingdom, Key Trends and Opportunities to 2017