Commercial Motor Insurance in the UK, Key Trends and Opportunities to 2018
Published: Apr 2014 Single User PDF: US$ 2795 Corporate User PDF: US$ 5590
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Commercial Motor Insurance in the UK, Key Trends and Opportunities to 2018 Synopsis 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
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Commercial Motor Insurance in the UK, Key Trends and Opportunities to 2018 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 period and stood at a five-year low of 106% in 2012, indicating long-standing profitability struggles. Premium increases enacted during the review period have not been able to offset rising claims payouts, an increase in operating expenses, and record-low interest rates limiting returns on investments. Call Now + 1 888 391 5441 | Email at sales@reportsandreports.com
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Commercial Motor Insurance in the UK, Key Trends and Opportunities to 2018 Scope This report provides market analysis, information and insights into the UK commercial motor insurance business
It provides a global snapshot of market size It analyses drivers and the outlook for the market It provides information on distribution channels It covers deals, news and regulatory developments
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Commercial Motor Insurance in the UK, Key Trends and Opportunities to 2018 Reasons To Buy Gain an understanding of the UK commercial motor insurance market size Learn about the performance of market drivers and distribution channels Understand the competitive landscape in terms of performance, profitability and product innovation Find out more on key deals and recent developments in the market
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Commercial Motor Insurance in the UK, Key Trends and Opportunities to 2018 Key Highlights Performance defied difficult economic conditions The recession constrained investment in commercial vehicles Insurers in the category have struggled to make a profit Claims costs have risen sharply Measures to combat fraud are expected to alleviate the claims burden Favorable factors will drive strong growth from 2015
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