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  5. > UK Landlord Property Insurance: Market Dynamics, Affinities and Partnerships

UK Landlord Property Insurance: Market Dynamics, Affinities and Partnerships is a report investigating the market for landlord property insurance in the UK with a focus on smaller private landlords who own fewer than ten rental properties. Key features include: an outline of market drivers and the value, growth and segmentation of the market from 2010 to 2014; quantification and commentary concerning the segmentation of policies in force by distribution channels used to buy them in 2014; estimates for underwriter market shares in 2014; a comprehensive listing of major affinity and partnership marketing relationships visible at the time of the research in 2015 for this type of policy; and forecasts for the value of the market up to 2018.

In this report, landlord property insurance is defined as insurance bought by smaller private landlords for dwellings that they let out and that it only includes the value of home emergency, legal protection, loss of rent and rent guarantee cover when these are bundled within a landlord property policy. (Note that landlord rent guarantee insurance, in particular, is the object of a sister report in this series, UK Landlord Rent Guarantee Insurance: Market Dynamics, Affinities and Partnerships.)

Table Of Contents

UK Landlord Property Insurance: Market Dynamics, Affinities and Partnerships
TABLE OF CONTENTS
00 EXECUTIVE SUMMARY 1
10 INTRODUCTION 3
What is the report and the rationale for it? 3
Methodology 3
Definitions 3
Landlord property insurance 3
Operating models 4
Partner table syntax 4
Finaccord 5
UK affinity and partnership marketing publications 5
UK market research publications 5
UK consumer research publications 6
20 MARKET ANALYSIS 7
Market drivers 7
Following a long-term trend, the number of privately-rented dwellings in the UK continues to rise 7
and most of these belong to private landlords who own just one such property 7
Market size and growth 8
The landlord property insurance market grew rapidly up to 2012 but flattened out in 2013 and 2014… 8
… as a result of a decline in the average premium paid per policy 8
The vast majority of the market value is due to private landlords owning fewer than five rental properties 9
Distribution channels 10
Direct sales, aggregators, brokers and affinity partners are all significant as distribution channels 10
Brokers active in this market include both generalist and specialist intermediaries 11
The members of two main trade associations tend to be ‘professional' landlords rather than ‘casual' ones 11
Affinities and partnerships 11
Over 40 affinity and corporate partners have a clearly articulated offering in landlord property insurance… 11
… while more than 350 may have the ability to cross-sell it next to household insurance 11
Market shares 14
Around 20 underwriters compete in a market that is fairly fragmented and that is led by Aviva 14
Market forecast 16
A further rise in the number of insurable properties will continue to fuel growth in this insurance sector 16
albeit tax incentives for private landlords are being pruned back 16
LIST OF GRAPHICS / TABLES
00 EXECUTIVE SUMMARY 1
Key market data for UK landlord property insurance, 2010 to 2014 2
10 INTRODUCTION 3
20 MARKET ANALYSIS 7
Number of properties rented from private landlords owning fewer than ten properties in the UK, 2010 to 2014 7
Number of properties rented from private landlords owning fewer than ten properties in the UK, segmented by number of properties owned, 2014 8
Gross written premiums for landlord property insurance for private landlords owning fewer than ten properties in the UK, 2010 to 2014 9
Segmentation of distribution channels used for landlord property insurance in the UK, 2014 10
Affinity and partnership marketing relationships for landlord property insurance in the UK, 2015 12
Affinity and partnership marketing relationships for landlord property insurance in the UK, 2015 (continued) 13
Affinity and partnership marketing relationships for landlord property insurance in the UK, 2015 (continued) 14
Estimated market shares of underwriters of landlord property insurance in the UK, 2014 15
Estimated market shares of underwriters of landlord property insurance in the UK, 2014 (table) 16
Gross written premiums for landlord property insurance in the UK, 2018 (forecast) 17

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