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UK Commercial Motor Insurance 2006
Datamonitor, March 2007, Pages: 117
In the face of sustained competitive pressures, the UK motor insurance market has succumbed to the soft cycle. This report examines the markets performance in terms of GWP and profitability. It also provides forecasts for GWP and underwriting result to 2011 under three different scenarios, making it essential for those with an interest in the commercial motor insurance market.
Scope of this title:
Extensive analysis of GWP and underwriting result for the commercial motor market, placed in the context of the performance of the total motor market. An examination of commercial insurance distribution trends Analysis of the major competitive issues, supported by interviews with senior industry executives and data from a range of secondary sources. GWP and underwriting result forecasts to 2011, based on our in-house expertise and proprietary models
Highlights of this title:
The commercial motor insurance market fell by 2.4 per cent in 2005 to a value of £3.4 billion in GWP terms. The reduction in GWP is a direct result of the competitive environment in evidence for most of 2005, which was most acute in commercial vehicle. The distribution of commercial insurance is still largely in the hands of brokers, which have seen their share of the market remain relatively stable at 83 per cent. This dominance is due to the more complex nature of commercial insurance, meaning that most commercial clients require professional advice, necessitating the use of a broker. In 2005, the top 10 commercial insurers accounted for 77.5 per cent of the total commercial motor insurance market. The market leader, Royal & SunAlliance, accounted for 18.2 per cent of the market. The level of consolidation has increased significantly since 1994, when the top 10 held 68.3 per cent of the market
Reasons to order your copy:
Benchmark your performance against that of your competitors using current and past data. Understand the trends behind SMEs insurance purchasing behavior, to better target this market segment. Develop your business strategy with confidence using our exclusive sector forecasts
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