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Commercial Motor Insurance in the UK, Key Trends and Opportunities to 2018 - Product Image

Commercial Motor Insurance in the UK, Key Trends and Opportunities to 2018

  • ID: 2786164
  • April 2014
  • Region: United Kingdom, Great Britain
  • 70 Pages
  • Timetric
Motor insurance claims have sharply risen, reflecting a higher incidence of fraudulent claims.

FEATURED COMPANIES

  • Ageas (UK) Ltd
  • Allianz Insurance Plc
  • Aviva Plc
  • Axa UK Plc
  • Zurich Insurance Plc
  • MORE

The report provides market analysis, information and insights into the UK commercial motor insurance insurance business, and offers:

- A snapshot of the market's size and market segmentation

- Comprehensive analysis of claims, drivers and market outlook

- Analysis of distribution channels

- Deals, news and regulatory developments

Summary

The UK commercial motor insurance category has recorded growth since 2008, despite the synchronous recessionary backdrop. Gross written premiums rose at an annual rate of 7.2% in 2012, to a total of GBP3.4 billion and a five- year high. During the review period (2008–2012), premiums posted a compound annual growth rate (CAGR) of 5.50%.

The recession resulted in faltering business confidence, lenders reducing the availability of credit, and a slump in capital spending - including investment in commercial vehicles. Faced with a reduction in the underlying demand for commercial motor insurance, rate rises in the category were largely due to insurers hiking rates to protect profits.

The total combined operating ratio for insurers operating in the category remained above 100% during the review READ MORE >

Note: Product cover images may vary from those shown
Motor insurance claims have sharply risen, reflecting a higher incidence of fraudulent claims.

FEATURED COMPANIES

  • Ageas (UK) Ltd
  • Allianz Insurance Plc
  • Aviva Plc
  • Axa UK Plc
  • Zurich Insurance Plc
  • MORE

1 Executive Summary

2 Introduction
2.1 What is this Report About?
2.2 Definitions
2.3 Methodology

3 Market Analysis
3.1 Market Size
3.1.1 Fleets
3.1.2 Commercial vehicles (non-fleet)
3.1.3 Other commercial motor
3.1.4 Penetration and density
3.2 Claims
3.2.1 Claims review
3.2.2 Claims outlook
3.3 Market Drivers
3.4 Market Outlook
3.5 Distribution Channels
3.5.1 Distribution outlook
3.6 Reinsurance

4 Competitive Landscape
4.1 Profitability
4.1.1 Investment returns
4.1.2 Profitability outlook
4.2 Review – The Best Performers of 2012
4.3 Product Innovation
4.4 Commercial Motor Insurance – SWOT Analysis

5 Porter’s Five Forces Analysis
5.1 Bargaining Power of Suppliers: Low
5.2 Bargaining Power of Buyers: Medium
5.3 Barriers to Entry: Medium
5.4 Intensity of Rivalry: Medium to High
5.5 Threat of Substitution: Low

6 Deals
6.1 Experian Extends Deal to Maintain Motor Insurance Database
6.2 Direct Line Group Completes Sale of Telematics Business
6.3 Axa Signs Broker Deal
6.4 Broker Deal for Trades Commercial Motor Insurance
6.5 Ageas Extends Vauxhall Partnership
6.6 RSA Extends Motability Deal

7 News
7.1 Commercial Insurance Ambitions for Allianz
7.2 Direct Line Group Aims to Expand Van Insurance
7.3 Ageas Partners With Keychoice
7.4 Liverpool Victoria Expands Commercial Motor Underwriting Team
7.5 Brokers Concerned Over Aviva’s Fleet Book

8 Regulation and Compliance
8.1 Recent Changes
8.1.1 EU Gender Directive
8.1.2 Legal Aid, Sentencing and Punishing of Offenders Act 2012 (LASPO)
8.2 Upcoming Regulations
8.2.1 My Licence driver database
8.2.2 Solvency II

9 Macroeconomic Backdrop
9.1 Real GDP Growth
9.2 Business Investment
9.3 Commercial Vehicle Registrations
9.4 Inflation
9.5 Interest Rates

10 Company Profiles
10.1 Ageas (UK) Ltd – Company Overview
10.1.1 Ageas (UK) Ltd – key facts
10.1.2 Ageas (UK) Ltd – main products
10.1.3 Ageas (UK) Ltd – main competitors
10.1.4 Ageas (UK) Ltd – key employees
10.2 Allianz Insurance Plc – Company Overview
10.2.1 Allianz Insurance Plc – key facts
10.2.2 Allianz Insurance Plc – main products
10.2.3 Allianz Insurance Plc – main competitors
10.2.4 Allianz Insurance Plc – key employees
10.3 Aviva Plc – Company Overview
10.3.1 Aviva Plc – key facts
10.3.2 Aviva Plc – main products
10.3.3 Aviva Plc – main competitors
10.3.4 Aviva Plc – key employees
10.4 Axa UK Plc – Company Overview
10.4.1 Axa UK Plc – key facts
10.4.2 Axa UK Plc – main products
10.4.3 Axa UK Plc – main competitors
10.4.4 Axa UK Plc – key employees
10.5 Direct Line Insurance Group Plc – Company Overview
10.5.1 Direct Line Insurance Group Plc – key facts
10.5.2 Direct Line Insurance Group Plc – main products
10.5.3 Direct Line Insurance Group Plc – main competitors
10.5.4 Direct Line Insurance Group Plc – key employees
10.6 Liverpool Victoria Friendly Society Ltd – Company Overview
10.6.1 Liverpool Victoria Friendly Society Ltd – key facts
10.6.2 Liverpool Victoria Friendly Society Ltd – main products
10.6.3 Liverpool Victoria Friendly Society Ltd – main competitors
10.6.4 Liverpool Victoria Friendly Society Ltd – key employees
10.7 National Farmers Union Mutual Insurance Society – Company Overview
10.7.1 National Farmers Union Mutual Insurance Society – key facts
10.7.2 National Farmers Union Mutual Insurance Society – main products
10.7.3 National Farmers Union Mutual Insurance Society – main competitors
10.7.4 National Farmers Union Mutual Insurance Society – key employees
10.8 QBE Insurance (Europe) Ltd – Company Overview
10.8.1 QBE Insurance (Europe) Ltd – key facts
10.8.2 QBE Insurance (Europe) Ltd – main products
10.8.3 QBE Insurance (Europe) Ltd – main competitors
10.8.4 QBE Insurance (Europe) Ltd – key employees
10.9 Royal & Sun Alliance Insurance Plc – Company Overview
10.9.1 Royal & Sun Alliance Insurance Plc – key facts
10.9.2 Royal & Sun Alliance Insurance Plc – main products
10.9.3 Royal & Sun Alliance Insurance Plc – main competitors
10.9.4 Royal & Sun Alliance Insurance Plc – key employees
10.10 Zurich Insurance Plc – Company Overview
10.10.1 Zurich Insurance Plc – key facts
10.10.2 Zurich Insurance Plc – main products
10.10.3 Zurich Insurance Plc – main competitors
10.10.4 Zurich Insurance Plc – key employees

11 Statistics
11.1 Review Period: 2008–2012
11.2 Forecast Period: 2013–2018

12 Appendix
12.1 Methodology
12.2 Contact
12.3 About
12.4 Services
12.5 Disclaimer

List of Tables

Table 1: Insurance Industry Definitions
Table 2: UK Commercial Motor Insurance – Market Summary (GBP Thousand), 2008–2012
Table 3: UK Commercial Motor Insurance – Market SWOT Analysis
Table 4: Recent and Upcoming UK Regulatory Changes
Table 5: Ageas (UK) Ltd, Key Facts
Table 6: Ageas (UK) Ltd, Main Products
Table 7: Ageas (UK) Ltd, Key Employees
Table 8: Allianz Insurance Plc, Key Facts
Table 9: Allianz Insurance Plc, Main Products
Table 10: Allianz Insurance Plc, Key Employees
Table 11: Aviva Plc, Key Facts
Table 12: Aviva Plc, Main Products
Table 13: Aviva Plc, Key Employees
Table 14: Axa UK Plc, Key Facts
Table 15: Axa UK Plc, Main Products
Table 16: Axa UK Plc, Key Employees
Table 17: Direct Line Insurance Group Plc – Key Facts
Table 18: Direct Line Insurance Group Plc – Main Products
Table 19: Direct Line Insurance Group Plc – Key Employees
Table 20: Liverpool Victoria Friendly Society Ltd, Key Facts
Table 21: Liverpool Victoria Friendly Society Ltd, Main Products
Table 22: Liverpool Victoria Friendly Society Ltd, Key Employees
Table 23: National Farmers Union Mutual Insurance Society, Key Facts
Table 24: National Farmers Union Mutual Insurance Society, Main Products
Table 25: National Farmers Union Mutual Insurance Society, Key Employees
Table 26: QBE Insurance (Europe) Ltd, Key Facts
Table 27: QBE Insurance (Europe) Ltd, Main Products
Table 28: QBE Insurance (Europe) Ltd, Key Employees
Table 29: Royal & Sun Alliance Insurance Plc, Key Facts
Table 30: Royal & Sun Alliance Insurance Plc, Main Products
Table 31: Royal & Sun Alliance Insurance Plc, Key Employees
Table 32: Zurich Insurance Plc, Key Facts
Table 33: Zurich Insurance Plc, Main Products
Table 34: Zurich Insurance Plc, Key Employees
Table 35: Commercial Motor Insurance (GBP Thousand), 2008–2012
Table 36: Commercial Motor Insurance (GBP Thousand), 2013–2018

List of Figures

Figure 1: UK Commercial Motor Insurance – Gross Written Premiums (GBP Million), 2008–2012
Figure 2: UK Commercial Motor Insurance Category Shares by Gross Written Premium (%), 2012
Figure 3: UK Fleet Commercial Vehicles – Gross Written Premium (GBP Million), 2008–2012
Figure 4: UK Non-Fleet Commercial Vehicles – Gross Written Premium (GBP Million), 2008–2012
Figure 5: Other UK Commercial Vehicles – Gross Written Premium (GBP Million), 2008–2012
Figure 6: UK Commercial Motor Insurance – Penetration Rate (%) and Density (GBP), 2008–2012
Figure 7: UK Commercial Motor Insurance – Net Claims Paid and Incurred (GBP Million), 2008–2012
Figure 8: Reported UK Road Accidents and Motor Compensation Cases Lodged (Thousand), 2007–2013
Figure 9: UK Business Investment Growth (%), 2004–2013
Figure 10: New UK Commercial Vehicle Registrations (Thousands), 2004–2012
Figure 11: New UK Car Registrations (Millions), 2008–2013
Figure 12: UK Stock of Commercial Vehicles (Thousand), 2004–2012
Figure 13: UK Commercial Motor Insurance – Gross Written Premiums Forecast (GBP Million) 2013–2018
Figure 14: UK Commercial Motor Insurance – Commissions (GBP Millions) 2008–2012
Figure 15: UK Commercial Motor Insurance – Combined Operating Ratio (%) 2008–2012
Figure 16: UK Commercial Motor Insurance – Loss and Expense Ratios (%) 2008–2012
Figure 17: Market Shares of the Top 10 UK Commercial Motor Insurers (%) in 2012
Figure 18: UK Commercial Motor Insurance – Five Forces Analysis
Figure 19: UK Insurance Regulatory Framework
Figure 20: UK Real GDP Growth (%), 2008–2017
Figure 21: UK Private Sector Net Lending and Business Investment (%), 2004–2013
Figure 22: UK New Commercial Vehicle Registrations, 2004-2013
Figure 23: UK Consumer Price Inflation (%), 2004–2013
Figure 24: UK Bank of England Rate (%), 2004–2012

Note: Product cover images may vary from those shown
Motor insurance claims have sharply risen, reflecting a higher incidence of fraudulent claims.

- Ageas (UK) Ltd
- Allianz Insurance Plc
- Aviva Plc
- Axa UK Plc
- Direct Line Insurance Group Plc
- Liverpool Victoria Friendly Society Ltd
- National Farmers Union Mutual Insurance Society
- QBE Insurance (Europe) Ltd
- Royal & Sun Alliance Insurance Plc
- Zurich Insurance Plc

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

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