UK Household Insurance Sector Performance Examined by Timetric in In-demand Study Published at MarketPublishers.com09 Dec 2014 • by Natalie Aster
LONDON – Unlike other non-life categories, the household insurance market remained profitable during 2009-2013 due to surging profit margins through pricing in 2011 and a small number of incurred claims in 2013. Going forward, the category’s profitability is expected to be threatened as insurers do not have control over operating expenses and commission costs. The two indicators grew constantly in the recent past, at CAGRs of over 6% and just under 6%, respectively. Moreover, the household category’s strong underwriting is facing certain challenges on the back of as a shift in distribution model in favour of price comparison websites, intensifying competition and putting pressure on prices.
With increasing expenses and earned premiums probably limited by decreased pricing margins, insurers’ profitability is threatened by bad weather, as the weather remains the major driver in the market regarding the value of claims.
In-demand report “Household Insurance in the UK, Key Trends and Opportunities to 2018” worked out by Timetric draws up a comprehensive picture of the household insurance sector across the United Kingdom.
It presents detailed insights into the market dynamics and key drivers, competitive landscape and consumer perspectives in the coming years. An all-round discussion of the leading products and distribution channels is provided, alongside profiling of the dominant household insurers in the UK including details of their strategic initiatives as well as other performances. The study provides historical values for the nation’s household insurance sector for 2009–2013, and projections for the period from 2014 to 2018.
Household Insurance in the UK, Key Trends and Opportunities to 2018
Published: November, 2014
Price: US$ 2,795.00
Other UK Insurance Markets Reports by Timetric Comprise:
- Whole Life Insurance in the UK, Key Trends and Opportunities to 2018
- Group Risk Insurance in the UK, Key Trends and Opportunities to 2018
- Life Insurance in the UK, Key Trends and Opportunities to 2018
More in-demand studies by the publisher can be found at Timetric page.