• SELECT SITE CURRENCY
Select a currency for use throughout the site
UK Commercial Property Insurance 2010
Datamonitor, January 2011, Pages: 49
This report provides a detailed analysis of the UK commercial property insurance market. It looks at the size of the market, performance ratios, claims costs, key issues and distribution trends. It also assesses the competitive landscape providing market share information and forecasts the total market GWP up to and including 2014.
Features and benefits
- An examination of overall market size, growth and profitability over the last several years
- Analysis of the key drivers of claims inflation using ABI figures for 2009 and H1 2010
- Market share and combined ratio data for the largest commercial property insurers
- Forecasts of the market’s GWP growth until 2014, based on primary interview, secondary research and in-house expertise
- Businesses have increasingly incorporated more technology and expensive equipment as standard, resulting in the rise of average value of claims over the past few years, as the potential "loss per square foot" for a property is said to increase.
- Premium rates are not expected to increase adequately in the near term, and due to the volume of reserve releases over the past few years, it is suspected that the level of reserves held by commercial property insurers is depleting.
- In 2009, RSA is estimated to have witnessed growth in its UK commercial property insurance gross written premiums (GWP) of 3.1%, resulting in a 0.6 percentage point increase in market share to 14.4%. This is in comparison to a drop in market share as experienced by most of the other top commercial property insurers.
Your key questions answered
- How has the commercial property insurance market been faring recently and how is it forecast to perform in the next four years?
- How are the various commercial property insurers performing in terms of GWP and combined operating ratios?
- What is the size and profitability of the total market, and how is this expected to change in the future?