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UK Personal General Insurance 2010
Datamonitor, Nov 2010, Pages: 70
Introduction
This unique report provides a detailed analysis of the UK general insurance market with a specific focus on the personal lines sector. It segments the market by line of business and assesses underwriting profits and investment income. The research also includes an in-depth analysis of the distribution and competitive landscape and forecasts the personal lines market size to 2014.
Features and benefits
Data on the size, structure and profitability of the total non-life market and the personal lines sector.
Insight into the different methods of distributing personal lines insurance products and the changes in the landscape.
Analysis of the total premiums and market share for the largest personal lines insurance groups.
Highlights
Over the next few years, there will be an increasing number of motor insurers and other distributors seeking to enter the household market due to its higher profitability and lower market saturation. The new entrants to the market will increase competition and exert downward pressure on premium rates.
Underwriting cycles are visible in the insurance industry, and take place over the course of several years. The progression of these cycles is visible in the CORs shown in Figure 1 below, between 1988 and 1994 and 1994 and 2004, as well as in the total market underwriting profit/loss progressions.
In 2009, the market share held by bancassurers dropped by 4 percentage points to 13%, after remaining at around 16–17% since 2005. While banks and building societies have largely held onto their share of the private motor insurance market, in 2009, their combined share of the household market saw a drop of 2 points.
Your key questions answered
How have the various forms of personal insurance been performing in terms of GWP and profitability?
Which insurers hold the highest GWP and advertising spend in 2009?
How should my insurance company be structuring their personal lines policy book?
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