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United Kingdom Insurance Report 2013 - Product Image

United Kingdom Insurance Report 2013

  • Published: November 2012
  • Region: United Kingdom, Great Britain
  • 113 pages
  • Business Monitor International

FEATURED COMPANIES

  • ACE Group
  • AIG
  • BNP Paribas Cardif
  • Company Profiles
  • Old Mutual Group
  • RSA
  • MORE

Key Insights And Key Risks

As of late 2012, it appears that the year as a whole will be regarded as one in which the numerous strengths of the UK’s insurance sector came to the fore. It is now clear that the global property and casualty (re)insurers, many of which are based in the UK or doing business in the country (whether through Lloyd’s or not) were more than adequately capitalised to cope with the massive claims from the various catastrophes of 2011. Thanks in part to disciplined underwriting and in part to a fall in catastrophe losses to ‘normal’ levels, Lloyd’s posted its best half-year result for five years in H112.

Lloyd’s and most of the insurers, whether they are primarily/wholly dealing in life/savings products or property/casualty/short-term risks are ready for the demands of the European Union’s Solvency II directive.

Although Lloyd’s management is somewhat cautious about the prospects for prices and rates in many of the lines that that market handles, it is clear that many (re)insurers who are involved with catastrophe-related risks have benefited from firmer rates in the wake of the massive losses suffered READ MORE >

Executive Summary 5
Table: Total Premiums, 2010-2017 5

Key Insights And Key Risks 5

SWOT Analysis 7

UK Insurance Industry SWOT 7

UK Political SWOT 9

UK Economic SWOT 9

UK Business Environment SWOT 10

Life Sector Overview 11

Developed Markets Life Sector Overview 11
Table: Developed States Life Premiums 2009-2016 11

UK Life Sector Update 13
Table: UK Long-Term Insurance Net Premium Income (OB & IB) 13
Table: Breakdown Of Benefits Paid On UK Long-Term Insurance (OB & IB) 14
Table: Individual Long-Term Business Policies In Force At Year End (OB & IB) 14

Life Industry Forecast Scenario 17
Table: Total Life Premiums, 2010-2017 17

Growth Drivers And Risk Management Projections 18

Population 18
Table: Insurance Key Drivers – Demographics 2010-2017 18

Non-Life Sector Overview 20

Developed Markets Non-Life Sector Overview 20
Table: Developed States Non-Life Premiums, 2009-2016 (US$mn) 20

UK Non-Life Sector Update 22

Non-Life Industry Forecast Scenario 24
Table: Total Non-Life Premiums, 2010-2017 24

Growth Drivers And Risk Management Projections 25

Macroeconomic Outlook 25
Table: United Kingdom – Economic Activity 27

Political Stability Outlook 28
Table: Europe Security Risk Ratings 31

Epidemiology 35
Table: Insurance Key Drivers – Disease Adjusted Life Years, 2010-2017 35

Motor 37

Insurance Risk/Reward Ratings 38
Table: United Kingdom’s Insurance Risk/Reward Ratings 38
Table: Developed States Insurance Risk/Reward Ratings 39

Competitive Landscape 40

Major Players In The UK’s Insurance Sector 40

The Competitive Landscape 43
Table: Rankings of Non-Life Companies By Gross Written Premiums (GBPmn) 43
Table: Rankings of Non-Life Companies By Net Written Premiums (GBPmn) 44
Table: Ranking of Life Companies by Gross Written Premiums (GBPmn) 45
Table: Ranking of Life Companies by Net Written Premiums (GBPmn) 46

Company Profiles 49

ACE Group 49

AEGON 53

Ageas 56

AIG 59

Allianz 63

AXA 66

BNP Paribas Cardif 69

BNP Paribas Cardif 72

Catlin Group 75

Friends Provident International (FPI) 78

Great-West Lifeco Inc 81

MetLife 84

Old Mutual Group 87

Prudential plc 92

QBE Insurance Group 97

RSA 100

Standard Life 102

XL Group 105

BMI Methodology 108

Insurance Risk/Reward Ratings 110
Table: Insurance Risk/Reward Indicators And Rationale 110
Table: Weighting Of Indicators 112

Company Profiles
ACE Group
AEGON
Ageas
AIG
Allianz
AXA
BNP Paribas Cardif
BNP Paribas Cardif
Catlin Group
Friends Provident International (FPI)
Great-West Lifeco Inc.
MetLife
Old Mutual Group
Prudential plc
QBE Insurance Group
RSA
Standard Life
XL Group

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