Albany, NY -- (SBWire) -- 01/29/2014 --Synopsis
The report provides market analysis, information and insights into the UK commercial property insurance business
It provides a snapshot of market's size and segmentation
It offers a comprehensive analysis of claims, drivers and market outlook
It analyzes distribution channels
Gross written premiums in the commercial property insurance category recorded sustained growth throughout the review period (2008–2012), rising at a compound annual growth rate (CAGR) of 6.79%. Premiums increased at an annual rate of 6.8% in 2012, reaching a total of GBP6.72 billion; the highest level in five years.
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Commercial property insurance claims paid declined by 5.5% in 2012, but this belies the rapid growth recorded since 2008. Payouts rose at a CAGR of 57.29% over the five years to 2012, while claims incurred increased at a CAGR of 28.61% during the same period. The UK has experienced frequent flooding since 2000, including two of the wettest years on record since 2008.
Despite weakness in the commercial construction market and flagging business sentiment due to poor economic conditions, the rise in premiums was driven by high claims related to severe weather and instances of civil unrest. Tentative economic recovery and improving business conditions drove growth towards the end of the review period.
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A large claims burden, limited investment returns due to the UK’s low interest rate environment, and rising expenses have hindered the profitability of insurers in the category. A combined operating ratio of 111.8% was registered in 2012. Although it exceeds the 100% breakeven threshold, it marks an improvement on profitability levels recorded during 2008?2010.
Table of Content
1 Executive Summary
2 Introduction
2.1 What is this Report About?
2.2 Definitions
2.3 Methodology
3 Market Analysis
3.1 Market Size
3.1.1 Commercial property
3.1.2 Consequential loss
3.1.3 Contractors or engineering risks
3.1.4 Penetration and density
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4 Competitive Landscape
4.1 Profitability
4.1.1 Investment returns
4.1.2 Profitability outlook
4.2 Review – The Best Performers of 2012
4.3 Product Innovation
5 Porter’s Five Forces Analysis
5.1 Bargaining Power of Suppliers: Low
5.2 Bargaining Power of Buyers: Medium
5.3 Barriers to Entry: Medium
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UK Commercial Insurance Property- Key Trends, Forecast and Opportunities to 2017
MarketResearchReports.Biz announces addition of new report “Commercial Property Insurance In The UK - Key Trends And Opportunities To 2017” to its database.