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  4. > United Kingdom Insurance Report Q4 2016

United Kingdom Insurance Report Q4 2016

  • July 2016
  • -
  • Business Monitor International
  • -
  • 57 pages

Includes 3 FREE quarterly updates

BMI View: We have updated our insurance market forecasts this quarter to incorporate the anticipatedimpact of the UK's decision to leave the European Union (EU) following the June 2016 referendum. Whileregulatory changes will take some time to enact, as the UK progresses through the necessary parliamentarymotions and two-year EU negotiation period, there will be a near-term impact on the market by financialmarket fluctuations and currency movements. We have therefore made downwards revisions to our 2016forecasts for both the life and non-life sectors. We note, however, that the UK insurance market is large,well-capitalised and home to a number of major multinational providers with expertise in a range ofsectors. It is therefore well-positioned to handle the transition period and, dependent upon the widereconomic trajectory in the UK, is expected to see positive growth over the medium term.

Key Updates And Forecasts

- Many leading insurance providers have made statements in recent weeks to reassure consumers andinvestors alike in the wake of the EU referendum results. The country's largest non-life insuranceprovider, Aviva, has released a statement noting the group's solvency ratio remained close to the top ofits working range of 150-180 percent and furthermore promised to increase dividend payouts in 2017.

- Insurers are being affected by stock market volatility and exchange rate fluctuations. Major providersAviva, Standard Life and M&G (part of Prudential) have all suspended trading in the UK's largestcommercial property fund in early July 2016, noting the sharp increase in investors withdrawing fundsamid concerns relating to the likely trajectory of the commercial property segment.

Table Of Contents

United Kingdom Insurance Report Q4 2016
BMI Industry View 7
Table: Headline Insurance Forecasts (United Kingdom 2013-2020) 7
Insurance 9
Industry Forecast 11
Industry Forecast - Brexit Implications 11
Latest Updates 11
Structural Trends 11
Table: Life And Non-Life Insurance Premiums (2016-2020) 12
Life Premiums Forecast 14
Table: Life Premiums (United Kingdom 2013-2020) 17
Table: Life Insurance Claims (United Kingdom 2008-2014) 17
Non-Life Premiums Forecast 18
Table: Non-Life Premiums (United Kingdom 2013-2020) 21
Table: Non-Life Insurance Claims (United Kingdom 2009-2013) 21
Non-Life Sub-Sector Forecast 22
Table: Non-Life Insurance Premiums by Product Line (United Kingdom 2013-2020) 31
Industry Risk/Reward Index 32
Developed States Insurance Risk/Reward Index 32
Table: Developed States Insurance Risk/Reward Index - Q416 33
Market Overview 34
Life Market Overview 34
The Product Offering 34
Competitive Landscape 34
Table: Life Insurance Market (USDmn) 2008-2013 36
Non-Life Market Overview 38
The Product Offering 38
Competitive Landscape 38
Table: Non-Life Premiums (USDmn) 2008-2014 40
Company Profile 41
Ageas 41
Prudential plc 44
RSA 47
Standard Life 49
Methodology 51
Industry Forecast Methodology 51
Risk/Reward Index Methodology 54
Table: Indicators 56
Table: Weighting of Indicators 57

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