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UK Creditor Insurance 2007
Datamonitor, July 2007, Pages: 66
Introduction
The report provides a detailed analysis of the current size and composition of the UK creditor insurance market at a time of great upheaval. In addition to a discussion of regulatory issues, it provides PPI customer and competitor information that allow for a more complete understanding of the market. The report also provides a forecast of creditor insurance GWP up until 2011.
Scope
Creditor insurance market sizing, product penetration and competitor premium income data In depth analysis of the underlying consumer credit market including sizing for personal loans, credit cards, mortgages, retail and motor finance A discussion of the FSAs work on the creditor market and the current Competition Commission investigation
Highlights
Based on primary research with interviewees as well as secondary data, we have estimated the penetration rate of PPI on each main lending product. Datamonitor estimates that the penetration rate of PPI is highest on personal loans at 41 per cent followed by 26 per cent for mortgages and 19 per cent for retail finance. The most negative recommendation for the market would be for the full de-linking of the product from the underlying credit purchase which could have a significant negative impact on sales of creditor insurance. Gross advances in the UK mortgage market are forecast to reach £357.2 billion in 2007 and increase steadily thereafter to stand at £395.1 billion in 2011.
Reasons to Purchase
Benchmark your creditor insurance premium income against your competitors Plan your future strategy using Datamonitors forecast of the future growth of the creditor insurance market Understand the work that the FSA and Competition Commission are carrying out on the market
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