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UK Motorcycle Insurance 2006
Datamonitor, Dec 2006, Pages: 56
The UK motorcycle insurance market experienced significant competitive pressures in both 2005 and 2006. This report examines the reasons behind this competitive situation, as well as providing information on GWP, premium rates, and vehicle number growth. It also provides a GWP forecast up to and including 2011, making it essential for those with an interest in the motorcycle insurance.
Scope of this title:
- Detailed competitor analysis, comparing the relative performance of all the major and emerging market players
- Discussion of the highly concentrated distribution channels
- Market forecast based on industry interviews and our analysis
Highlights of this title:
- The motorcycle insurance market was worth £187 million in 2005, representing an increase of 2.5 per cent compared to a value of £183 million in 2004. This growth marks an improvement on 2004s poor performance, when GWP decreased by 6.2 per cent.
- In 2005 some mid-sized players were pricing for growth in an attempt to catch up with market leaders Norwich Union and Equity Red Star. 2006 saw the big players turn the tables on the market, as they sought to regain market share and assert their dominance.
- Due to the need for specialist sector knowledge, and the proliferation of a more diverse set of risks, brokers play a more significant role than direct distributors. Among specialist motorcycle intermediaries, Carole Nash and Bennetts are the two biggest names.
Reasons to order your copy:
- Gain insight into market conditions through analysis of key trends and issues effecting current and future market performance
- Compare competitor performances and strategies using current and historical data
- Plan ahead with our GWP forecasts based on industry interviews and in-house analysis
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