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United Kingdom Insurance Report Q2 2016

  • April 2016
  • -
  • Business Monitor International
  • -
  • 49 pages

Includes 3 FREE quarterly updates

BMI View: Our outlook for the UK's insurance market is broadly positive at present. In the larger lifeinsurance sector, improving household income rates and strong demographic trends will support a soliduptick in premium growth between 2016 and 2020, leading to life insurance accounting for over 75% of allinsurance premiums written by the end of the forecast period. Growth will be more subdued in the non-lifesector, partly a result of intense pricing pressure in highly competitive lines such as motor and propertyinsurance, and also reflecting the overall maturity of this well-established market. Health and personalaccident insurance will likely remain the strongest non-life growth sectors, outpacing the remainder of thenon-life market.

Key Updates & Forecasts

- New regulations under Solvency II, which became effective across the EU on 1 January 2016, have comeunder criticism from the UK Treasury and the Bank of England, which have submitted a call for anearlier than planned review and key changes to the European Commission. The UK Treasury reportedlyhas concerns surrounding long-term investments, while the Bank of England has raised technicalconcerns.

Table Of Contents

United Kingdom Insurance Report Q2 2016
BMI Industry View 5
Table: Headline Insurance Forecasts (United Kingdom 2013-2020) 5
SWOT 7
Insurance 7
Industry Forecast 9
Life Premiums Forecast 9
Table: Life Premiums (United Kingdom 2013-2020) 12
Table: Life Insurance Claims (United Kingdom 2008-2014) 12
Non-Life Premiums Forecast 13
Table: Non-Life Premiums (United Kingdom 2013-2020) 16
Table: Non-Life Insurance Claims (United Kingdom 2009-2013) 16
Non-Life Sub-Sector Forecast 17
Table: Non-Life Insurance Premiums by Product Line (United Kingdom 2013-2020) 25
Industry Risk Reward Ratings 26
Developed States Insurance Risk/Reward Index 26
Table: Developed States Insurance Risk/Reward Index - Q216 27
Market Overview 28
Life Market Overview 28
The Product Offering 28
The Competitive Landscape 28
Table: Life Insurance Premiums (USDmn), 2008-2013 30
Non-Life Market Overview 31
The Product Offering 31
The Competitive Landscape 31
Table: Non-Life Premiums (USDmn), 2008-2014 33
Company Profile 34
Ageas 34
Prudential plc 36
RSA 39
Standard Life 41
Methodology 43
Industry Forecast Methodology 43
Risk/Reward Index Methodology 46
Table: Indicators 48
Table: Weighting of Indicators 49

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