Private Motor Insurance in the UK – Key Trends and Opportunities to 2018

Date: December 20, 2014
Pages: 64
Price:
US$ 2,795.00
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Publisher: Timetric
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)
ID: P80E39DCFACEN
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Private Motor Insurance in the UK – Key Trends and Opportunities to 2018
SYNOPSIS

This report is the result of extensive research into the private motor insurance market in the UK, covering the market dynamics, outlook and competitive landscape. It provides estimates of the market size and forecasts for the private motor insurance market, and discusses key products and distribution channels. This report also provides an overview of the leading companies in the category, along with details of the strategic initiatives undertaken.

SUMMARY
  • The report provides market analysis and insights into the UK private motor insurance business.
  • It also provides a snapshot of market size and dynamics.
  • Furthermore, the report discusses key drivers, distribution channels and the outlook for the market.
  • It also summarizes deals, news and regulatory developments in the category.
SCOPE
  • This report provides a comprehensive analysis of the private motor insurance market in the UK.
  • It provides historical values for the UK private motor insurance market for the report’s 2009–2013 review period and projected figures for the 2014–2018 forecast period.
  • It offers estimates of gross written premiums collected in the market.
  • It provides an overview of market dynamics and market drivers.
  • It profiles top private motor insurers in the UK and outlines key challenges facing them.
REASONS TO BUY
  • Gain an understanding of the UK private motor insurance market.
  • Learn about the performance of market drivers, distribution channels and market dynamics.
  • Explore policy types and key competitors in the category.
  • Find out more on key deals and recent developments in the market.
KEY HIGHLIGHTS
  • Private motor insurance premiums fell in both 2012 and 2013.
  • Motor insurers are expected to start raising premium rates in 2015.
  • Premium growth is expected to settle at 1.5% by 2018.
  • Government measures to cut claims are starting to take effect.
  • Price-comparison websites fail to meet FCA’s expectations.
1 EXECUTIVE SUMMARY

2 INTRODUCTION

2.1 What is this Report About?
2.2 Definitions
2.3 Methodology

3 MARKET ANALYSIS

3.1 Market Size
  3.1.1 Penetration and density
  3.1.2 Comprehensive private motor insurance
  3.1.3 Non-comprehensive private motor insurance
  3.1.4 Motorcycle insurance
  3.1.5 Average private motor insurance premium
3.2 Claims
  3.2.1 Claims review
  3.2.2 Motor insurance fraud
  3.2.3 Claims outlook
3.3 Market Drivers
3.4 Market Outlook
3.5 Distribution Channels

4 COMPETITIVE LANDSCAPE

4.1 Review – The Best Performers of 2013
4.2 Profitability
4.3 Product Innovation
4.4 Private Motor Insurance – SWOT Analysis

5 DEALS AND NEWS

5.1 Aviva Seeks Consultation on Cashless Compensation
5.2 Southern Rock Insurance Company Joins the IFB
5.3 CMA Calls for Price Cap on Vehicle Replacement Charges
5.4 RSA Reduces Personal Motor Broker Business by More Than a Third
5.5 Ageas Secures a Five Year Deal with John Lewis Insurance
5.6 Zurich Brand to Disappear from PCWs
5.7 Esure to Offer Reduced Premiums to Drivers of AEB–Fitted Cars
5.8 Legal and General Enters Personal Lines Motor Market
5.9 Admiral Extends Reinsurance Deals to 2016

6 REGULATION AND COMPLIANCE

6.1 Regulatory Changes
  6.1.1 Continuous insurance requirements
  6.1.2 Risk selection by gender has been outlawed
  6.1.3 The Legal Aid, Sentencing and Punishment of Offenders Act (LASPO)
  6.1.4 The Ministry of Justice online portal extension
  6.1.5 Fixed fees for whiplash medical reports
  6.1.6 Competition Commission investigation
  6.1.7 Solvency II

7 ECONOMIC BACKDROP

7.1 Real GDP Growth
7.2 Growth in Private Car Registrations
7.3 RPI and Motoring Costs
7.4 GDP Per Capita and Household Disposable Incomes

8 COMPANY PROFILES

8.1 Admiral Group Plc – Company Overview
  8.1.1 Admiral Group Plc – key facts
  8.1.2 Admiral Group Plc – main products
  8.1.3 Admiral Group Plc – main competitors
  8.1.4 Admiral Group Plc – key employees
8.2 Ageas (UK) Ltd – Company Overview
  8.2.1 Ageas (UK) Ltd – key facts
  8.2.2 Ageas (UK) Ltd – main products
  8.2.3 Ageas (UK) Ltd – main competitors
  8.2.4 Ageas (UK) Ltd – key employees
8.3 Aviva Plc – Company Overview
  8.3.1 Aviva Plc – key facts
  8.3.2 Aviva Plc – main products
  8.3.3 Aviva Plc – main competitors
  8.3.4 Aviva Plc – key employees
8.4 Axa UK Plc – Company Overview
  8.4.1 Axa UK Plc – key facts
  8.4.2 Axa UK Plc – main products
  8.4.3 Axa UK Plc – main competitors
  8.4.4 Axa UK Plc – key employees
8.5 Direct Line Insurance Group Plc – Company Overview
  8.5.1 Direct Line Insurance Group Plc – key facts
  8.5.2 Direct Line Insurance Group Plc – main products
  8.5.3 Direct Line Insurance Group Plc – main competitors
  8.5.4 Direct Line Insurance Group Plc – key employees
8.6 Esure Group Plc – Company Overview
  8.6.1 Esure Group Plc – key facts
  8.6.2 Esure Group Plc – main products
  8.6.3 Esure Group Plc – main competitors
  8.6.4 Esure Group Plc – key employees
8.7 Great Lakes Reinsurance (UK) Plc – Company Overview
  8.7.1 Great Lakes Reinsurance (UK) Plc – key facts
  8.7.2 Great Lakes Reinsurance (UK) Plc – main products
  8.7.3 Great Lakes Reinsurance (UK) Plc – main competitors
  8.7.4 Great Lakes Reinsurance (UK) Plc – key employees
8.8 Liverpool Victoria Group – Company Overview
  8.8.1 Liverpool Victoria Group – key facts
  8.8.2 Liverpool Victoria Group – main products
  8.8.3 Liverpool Victoria Group – main competitors
  8.8.4 Liverpool Victoria Group – key employees
8.9 Royal & Sun Alliance Insurance Plc – Company Overview
  8.9.1 Royal & Sun Alliance Insurance Plc – key facts
  8.9.2 Royal & Sun Alliance Insurance Plc – main products
  8.9.3 Royal & Sun Alliance Insurance Plc – main competitors
  8.9.4 Royal & Sun Alliance Insurance Plc – key employees
8.10 Zurich Insurance Plc – Company Overview
  8.10.1 Zurich Insurance Plc – key facts
  8.10.2 Zurich Insurance Plc – main products
  8.10.3 Zurich Insurance Plc – main competitors
  8.10.4 Zurich Insurance Plc – key employees

9 STATISTICS

9.1 Review Period
9.2 Forecast Period

10 APPENDIX

10.1 Methodology
10.2 Contact Timetric
10.3 About Timetric
10.4 Timetric’s Services
10.5 Disclaimer

LIST OF TABLES

Table 1: Insurance Industry Definitions
Table 2: UK Average Private Comprehensive Motor Insurance Premiums (GBP), Q1 2012–Q2 2014
Table 3: UK Private Motor Insurance – Market Summary, 2009–2013
Table 4: UK Private Motor Insurance – SWOT Analysis
Table 5: Admiral Group Plc – Key Facts
Table 6: Admiral Group Plc – Main Products
Table 7: Admiral Group Plc – Key Employees
Table 8: Ageas (UK) Ltd – Key Facts
Table 9: Ageas (UK) Ltd – Main Products
Table 10: Ageas (UK) Ltd – Key Employees
Table 11: Aviva Plc – Key Facts
Table 12: Aviva Plc – Main Products
Table 13: Aviva Plc – Key Employees
Table 14: Axa UK Plc – Key Facts
Table 15: Axa UK Plc – Main Products
Table 16: Axa UK Plc – Key Employees
Table 17: Direct Line Insurance Group Plc – Key Facts
Table 18: Direct Line Insurance Group Plc – Main Products
Table 19: Direct Line Insurance Group Plc – Key Employees
Table 20: Esure Group Plc – Key Facts
Table 21: Esure Group Plc – Main Products
Table 22: Esure Group Plc – Key Employees
Table 23: Great Lakes Reinsurance (UK) Plc – Key Facts
Table 24: Great Lakes Reinsurance (UK) Plc – Main Products
Table 25: Great Lakes Reinsurance (UK) Plc – Key Employees
Table 26: Liverpool Victoria Group – Key Facts
Table 27: Liverpool Victoria Group – Main Products
Table 28: Liverpool Victoria Group – Key Employees
Table 29: Royal & Sun Alliance Insurance Plc – Key Facts
Table 30: Royal & Sun Alliance Insurance Plc – Main Products
Table 31: Royal & Sun Alliance Insurance Plc – Key Employees
Table 32: Zurich Insurance Plc – Key Facts
Table 33: Zurich Insurance Plc – Main Products
Table 34: Zurich Insurance Plc – Key Employees
Table 35: UK Private Motor Insurance – Historical Statistics, 2009–2013
Table 36: UK Private Motor Insurance – Forecast Statistics, 2014–2018

LIST OF FIGURES

Figure 1: UK Private Motor Insurance – Gross Written Premiums (GBP Million), 2009–2013
Figure 2: UK Private Motor Insurance – Penetration Rate (%) and Density (GBP), 2009–2013
Figure 3: UK Comprehensive Private Motor Insurance – Gross Written Premiums (GBP Million), 2009–2013
Figure 4: UK Non-Comprehensive Private Motor Insurance – Gross Written Premiums (GBP Million), 2009–2013
Figure 5: UK Motorcycle Insurance – Gross Written Premiums (GBP Million), 2009–2013
Figure 6: UK Private Motor Insurance – Net Claims Paid and Incurred (GBP Million), 2009–2013
Figure 7: Reported Road Accidents and Motor Injury Compensation Claims, 2006–2013
Figure 8: UK Private Motor Insurance – Gross Written Premiums Forecast (GBP Million), 2014–2018
Figure 9: Private Motor Insurance Growth Dynamics by Product (%), 2009–2018
Figure 10: UK Commissions Paid by Private Motor Insurers (GBP Million), 2009–2013
Figure 11: UK Market Shares of the Top 10 Private Motor Insurers (%), 2013
Figure 12: Combined Operating Ratio for Total UK Private Motor Business (%), 2009–2013
Figure 13: Loss and Expenses Ratios for Total UK Private Motor Business (%), 2009–2013
Figure 14: The UK’s Insurance Regulatory Framework
Figure 15: UK Real GDP (Million) and Quarter-on-Quarter Growth (%), 2007–2014
Figure 16: Number of Licensed Vehicles in the UK (Millions), 2003–2013
Figure 17: Motor-Related Inflation Versus Headline RPI Rate (%), 2000–2013
Figure 18: UK Improving Living Standards (GBP), 1997–2013

COMPANIES MENTIONED

Admiral Group Plc
Ageas UK Ltd
Aviva Plc
Axa UK Plc
Direct Line Insurance Group Plc
Esure Group Plc
Great Lakes Reinsurance (UK) Plc
Liverpool Victoria Group
Royal & Sun Alliance Insurance Plc
Zurich Insurance Plc

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Private Motor Insurance in the UK – Key Trends and Opportunities to 2018
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