Boston, MA -- (SBWIRE) -- 09/16/2013 -- 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. 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.

View Full Report Details and Table of Contents

Key Highlights

- The non-life segment is mature and is ranked the third-largest in Europe in terms of gross written premium.
- The country's non-life segment increased at a CAGR of 3.6% during the review period.
- 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.
- During 2012, heavy rainfall in June and July led to upward pressure on property insurance prices.
- The main distribution channels for non-life products are brokers, direct marketing and bancassurance. These channels accounted for 83.9% of total commission paid for the non-life segment in 2012.

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"

Reasons to Get This Report

Companies Mentioned in this Report: Aviva, Direct Line Group, RSA Group, Axa, Zurich Insurance, AIG, Allianz, Ageas, Bupa, Liverpool Victoria

About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.

Browse all Insurance research reports at Fast Market Research

You may also be interested in these related reports:

- Life Insurance in the United Kingdom, Key Trends and Opportunities to 2017
- Personal Accident and Health Insurance in the United Kingdom, Key Trends and Opportunities to 2017
- Reinsurance in the United Kingdom, Key Trends and Opportunities to 2017
- Life Insurance in Russia, Key Trends and Opportunities to 2017
- Life Insurance in South Africa, Key Trends and Opportunities to 2017
- Personal Accident and Health Insurance in South Africa, Key Trends and Opportunities to 2017
- Non-Life Insurance in South Africa, Key Trends and Opportunities to 2017
- Non-Life Insurance in Romania, Key Trends and Opportunities to 2017
- Life Insurance in Argentina, Key Trends and Opportunities to 2017
- Non-Life Insurance in Argentina, Key Trends and Opportunities to 2017