New Insurance research report from Timetric is now available from Fast Market Research

Boston, MA -- (SBWire) -- 09/18/2013 --The UK's personal accident and health insurance segment is the smallest segment in terms of gross written premium in the country's insurance industry. During the review period, the country's increasing overall healthcare expenditure and deficiencies related to the provision of care by the National Health Service (NHS) stimulated growth in the health insurance category. As a result of initiatives by the UK Competition Commission, private healthcare companies in the country are expected to be forced to provide comparable quality and cost information to ensure fair competition. Over the forecast period, personal accident and health insurance growth is expected to be driven by the health insurance category which accounted for the largest market share of 66.7% in 2012. Overall, the value of the segment is expected to increase at a CAGR of 2.4%.

Key Highlights

- The UK insurance industry is the largest insurance industry in Europe and the third largest in the world, in gross written premium terms, behind the US and Japan.
- During the review period, the country's increasing overall healthcare expenditure and deficiencies related to the provision of care by the National Health Service (NHS) stimulated growth in the health insurance category.
- There is a high reliance on insurance brokers and, despite the UK having a highly developed banking industry and a high percentage of the country's population banking online, the bancassurance channel only accounted for the third-highest proportion of personal accident and health insurance policies distributed in the UK.
- Approximately 85% of the UK's healthcare expenses are government-funded and 15% is covered by private insurers.

View Full Report Details and Table of Contents

Scope

This report provides a comprehensive analysis of the personal accident and health insurance segment in the United Kingdom:

- It provides historical values for the UK personal accident and health insurance segment 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 UK personal accident and health insurance segment, 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 personal accident and health 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 personal accident and health insurance business
- It provides a detailed analysis of the reinsurance segment in the United Kingdom and its growth prospects

Companies Mentioned in this Report: Aviva Plc, Axa UK Plc, Prudential Plc, AIG Europe Ltd, RSA Insurance Group Plc, Groupama Insurer Ltd, Cigna UK HealthCare Benefits

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