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UK Commercial Property Insurance 2009
Datamonitor, Oct 2009, Pages: 51
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 2013.
Scope
- An examination of market size, growth and profitability.
- Analysis of the key drivers of claims inflation.
- Market share and combined ratio data for the largest commercial property insurers.
- Forecasts of market size and profitability to 2013.
Highlights of this title
The market peaked in terms of premium growth rates in 2002 and thereafter growth rates declined moving into negative territory in 2005. Between 2005 and 2007 the market contracted before seeing growth for the first time in several years in 2008, as insurers put through small rate increases. In 2008 the market was worth £4.3 billion.
Analysis of gross incurred claims for the period to H1 2009 indicates that claims costs have been fairly benign for the first half of 2009 which bodes well for the sector. Gross incurred claims totaled £737m for H1 2009 which compares to £757m for H1 2008 and represents a fall of 2.6%.
Industry executives believe that the issue of players seeking market share for new business will hamper any renewal rate increase in the immediate future.
Key reasons to purchase this title
- Understand the direction in which the commercial property insurance market is moving in terms of premium rates, profitability and future claims.
- Assess the market share of the major distribution channels, the key players and the latest competitor developments.
- Gain insight into the views and opinions of some of the leading industry executives.
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