Aarkstore Enterprise The UK Insurance Market Outlook to 2015

March 3, 2011 - PRLog -- Aarkstore announce a new report  "The UK Insurance Market Outlook to 2015" through its vast collection of market research report.

Executive Summary

The Report titled “The UK Insurance Market Outlook to 2015” provides an in-depth analysis of the UK insurance industry. The report covers specific insights on the market size, insurance density, insurance penetration, segmentation and future outlook of the insurance industry in the UK. The report also entails the market size on the basis of gross insurance premium written in case of life and non-life insurance and market share of various companies at the country level. Overall, the report offers a comprehensive analysis of the entire UK insurance industry.

The insurance industry in the UK is one of the largest, sophisticated and competitive markets in the world. There are few barriers to entry in the Insurance market and freedom on rate setting, leading to an increase in the rivalry among insurers. The industry is currently witnessing soft market conditions due to over-capacity and rise in the level of profitability in 2009 due to a kind natural catastrophe season.

In the UK, the life gross insurance premium grew at a CAGR of ~% from 2001-2009 and increased from USD ~ million to USD ~ million. The life premium showed a growth trend from 2001-2007, declining thereafter in 2008 and 2009. Non life premium increased from USD ~ million in 2001 to USD ~ million in 2009, registering a CAGR of ~%. The effect of recession was felt in the UK as well wherein the market declined for two consecutive years i.e. in 2008 and 2009.

In terms of value, life insurance contributed with a premium of USD ~ million. Motor insurance being the second largest segment contributed with USD ~ million followed closely by property insurance with USD ~ million. Health insurance and other non-life insurance also contributed with USD ~ million and USD ~ million respectively.

Motor insurance in the UK grew at a CAGR of ~% from 2001-2009. The premium increased from 2002 onwards and continued to increase till 2005, declining marginally in 2006 and then again increased in 2007. The premium dipped again in 2008 and 2009 because of economic depression.

The UK life insurance market is highly fragmented with the largest player Aviva holding ~ % of the total market. Standard life is another major player with a market share of ~ %. There is stiff competition between HBOS Financial Services, Legal & General, AEGON, Alico and Prudential, having a market share of ~%, ~%, ~%, ~%, ~% respectively. Lloyds TSB is another major player with a market share of ~ % closely followed by AXA with ~ % of the market share. Friends Provident holds a market share of ~ %. There are other players operating in the region who hold approximately ~ % of the market.

For more information, please visit:
http://www.aarkstore.com/reports/The-UK-Insurance-Market-...
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Related Reports
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France Insurance Market Outlook to 2015
Spain Insurance Market Outlook to 2015
India Insurance Market Outlook to 2015

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