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UK Professional Indemnity Insurance 2007
Datamonitor, June 2007, Pages: 50
This report provides analysis of the markets performance in terms of GWP and profitability in 2007, and discusses competitive environment and competitor strategies.
Scope of this title:
Estimates of the size of the professional indemnity market Market shares and GWP for the major professional indemnity insurers Two GWP growth forecasts up to 2011 based on our in-house expertise and interviews with senior industry executives
Highlights of this title:
Our estimates that the UK professional indemnity market was worth £1,471 million in 2006. Total GWP for 2005 was estimated at £1,549, suggesting that the market has declined by around 5 per cent in 2006, leading to a fall of £78 million in written premiums. The vast majority of business in the professional indemnity market is done through the broker channel because companies taking out cover often need to be examined on a case-by-case basis. Many in the market maintain argue that technological solutions or direct propositions cannot yet be successful in professional indemnity. Statistics from the SynThesys Non-Life database indicate that New Hampshire, which is owned by AIG, remained the largest company insurer in the UK professional indemnity market in 2005, accounting for 10.9 per cent. In second and third place were two of the UKs largest general insurance providers; Royal & SunAlliance and Norwich Union.
Reasons to order your copy: Gain insight into the growth of the market in 2006 Understand the competitive environment of the UK professional indemnity insurance market Develop your business strategy using our unique sector forecasts
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