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Motor Insurance in the United Kingdom

  • May 2015
  • -
  • MarketLine
  • -
  • 36 pages

Introduction

Motor Insurance in the United Kingdom industry profile provides top-line qualitative and quantitative summary information including: market size (value 2010-14, and forecast to 2019). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market. Essential resource for top-line data and analysis covering the United Kingdom motor insurance market. Includes market size and segmentation data, textual and graphical analysis of market growth trends, leading companies and macroeconomic information.

Highlights

*The motor insurance market consists of motor insurance for personal and commercial vehicles, including cars, light & heavy trucks, vans, motorcycles and mopeds. The value of the motor insurance market reflects gross premium incomes. Gross premium income is defined as the insurer’s premium income for the year from its policies, calculated without reduction for reinsurance premiums paid or payable by the insurer. Any currency conversions used in the creation of this profile have been calculated using constant 2014 annual average exchange rates. The motor insurance market depends on a variety of economic and non-economic factors, and future performance is difficult to predict. The forecast given in this report is intended as a rough guide to the direction in which the market is likely to move. This forecast is based on a correlation between past market growth and the growth of base drivers, such as population numbers, GDP growth, and long-term interest rates.

*The UK motor insurance market is expected to generate total gross premium income of $23,217.0m in 2014, representing a compound annual growth rate (CAGR) of 2.1% between 2010 and 2014.

*The personal segment is expected to be the market's most lucrative in 2014, with total gross premium income of $18,307.6m, equivalent to 78.9% of the market's overall value.

*The performance of the market is forecast to accelerate, with an anticipated CAGR of 2.7% for the five-year period 2014 - 2019, which is expected to drive the market to a value of $26,504.4m by the end of 2019.

Features

Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the motor insurance market in the United Kingdom

Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the motor insurance market in the United Kingdom

Leading company profiles reveal details of key motor insurance market players’ global operations and financial performance

Add weight to presentations and pitches by understanding the future growth prospects of the United Kingdom motor insurance market with five year forecasts

Macroeconomic indicators provide insight into general trends within the United Kingdom economy

Key Questions Answered

What was the size of the United Kingdom motor insurance market by value in 2014?

What will be the size of the United Kingdom motor insurance market in 2019?

What factors are affecting the strength of competition in the United Kingdom motor insurance market?

How has the market performed over the last five years?

What are the main segments that make up the United Kingdom's motor insurance market?

Table Of Contents

Motor Insurance in the United Kingdom
TABLE OF CONTENTS
Executive Summary 2
Market value 2
Market value forecast 2
Category segmentation 2
Geography segmentation 2
Market rivalry 2
Market Overview 7
Market definition 7
Market analysis 7
Market Data 8
Market value 8
Market Segmentation 9
Category segmentation 9
Geography segmentation 10
Market Outlook 11
Market value forecast 11
Five Forces Analysis 12
Summary 12
Buyer power 13
Supplier power 14
New entrants 15
Threat of substitutes 17
Degree of rivalry 18
Leading Companies 19
Aviva plc 19
AXA 22
RSA Insurance Group plc 25
Zurich Insurance Group Ltd. 28
Macroeconomic Indicators 31
Country Data 31
Methodology 33
Industry associations 34
Related MarketLine research 34
Appendix 35
About MarketLine 35



LIST OF TABLES
Table 1: United Kingdom motor insurance market value: $ billion, 2010-14 8
Table 2: United Kingdom motor insurance market category segmentation: $ billion, 2014 9
Table 3: United Kingdom motor insurance market geography segmentation: $ billion, 2014 10
Table 4: United Kingdom motor insurance market value forecast: $ billion, 2014-19 11
Table 5: Aviva plc: key facts 19
Table 6: Aviva plc: key financials ($) 20
Table 7: Aviva plc: key financials (£) 20
Table 8: Aviva plc: key financial ratios 20
Table 9: AXA: key facts 22
Table 10: AXA: key financials ($) 23
Table 11: AXA: key financials (€) 23
Table 12: AXA: key financial ratios 23
Table 13: RSA Insurance Group plc: key facts 25
Table 14: RSA Insurance Group plc: key financials ($) 26
Table 15: RSA Insurance Group plc: key financials (£) 26
Table 16: RSA Insurance Group plc: key financial ratios 26
Table 17: Zurich Insurance Group Ltd.: key facts 28
Table 18: Zurich Insurance Group Ltd.: key financials ($) 29
Table 19: Zurich Insurance Group Ltd.: key financial ratios 29
Table 20: United Kingdom size of population (million), 2010-14 31
Table 21: United Kingdom gdp (constant 2005 prices, $ billion), 2010-14 31
Table 22: United Kingdom gdp (current prices, $ billion), 2010-14 31
Table 23: United Kingdom inflation, 2010-14 32
Table 24: United Kingdom consumer price index (absolute), 2010-14 32
Table 25: United Kingdom exchange rate, 2010-14 32



LIST OF FIGURES
Figure 1: United Kingdom motor insurance market value: $ billion, 2010-14 8
Figure 2: United Kingdom motor insurance market category segmentation: % share, by value, 2014 9
Figure 3: United Kingdom motor insurance market geography segmentation: % share, by value, 2014 10
Figure 4: United Kingdom motor insurance market value forecast: $ billion, 2014-19 11
Figure 5: Forces driving competition in the motor insurance market in the United Kingdom, 2014 12
Figure 6: Drivers of buyer power in the motor insurance market in the United Kingdom, 2014 13
Figure 7: Drivers of supplier power in the motor insurance market in the United Kingdom, 2014 14
Figure 8: Factors influencing the likelihood of new entrants in the motor insurance market in the United Kingdom, 2014 15
Figure 9: Factors influencing the threat of substitutes in the motor insurance market in the United Kingdom, 2014 17
Figure 10: Drivers of degree of rivalry in the motor insurance market in the United Kingdom, 2014 18
Figure 11: Aviva plc: revenues and profitability 21
Figure 12: Aviva plc: assets and liabilities 21
Figure 13: AXA: revenues and profitability 24
Figure 14: AXA: assets and liabilities 24
Figure 15: RSA Insurance Group plc: revenues and profitability 27
Figure 16: RSA Insurance Group plc: assets and liabilities 27
Figure 17: Zurich Insurance Group Ltd.: revenues and profitability 30
Figure 18: Zurich Insurance Group Ltd.: assets and liabilities 30


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