UK Private Motor Sector Examined by Timetric in In-demand Research Study Published at MarketPublishers.com05 Jan 2015 • by Natalie Aster
LONDON – Motorcycle insurance subcategory comprised just over 1% of the total vehicle insurance premiums; it declined by around 17% in 2013, following Ageas’ purchase of Groupama’s UK general insurance business.
In 2012, Groupama UK Insurance Company (GICL), famous for its focus on niche products, wrote USD 53.07 million in motorcycle premiums and led the subcategory with a share of just over 28%. As a result of the deal with Ageas, Groupama received USD 34.6 million in motorcycle premiums in 2013, a decrease by about 35% on the previous year’s result by the insurer.
Motorcycle insurance premiums declined at a 4.7% CAGR over the review period, reaching over USD 156.97 million in 2013. The subcategory remained steady during 2009-2012 in spite of a decreased number of motorcycle accidents and a reduction in motorcycle registrations. This was mainly owing to RSA’s exit from the country’s motorcycle insurance market in 2011, enabling its competitors to increase premium rates.
In-demand market research report “Private Motor Insurance in the UK – Key Trends and Opportunities to 2018” drawn up by Timetric offers an extensive analysis of the national private motor insurance marketplace. It presents historical estimates of the market size (value) for the UK private motor insurance sector for the 2009–2013 period and forecasted figures through to 2018-end, provides a deep understanding of the major products and distribution channels. The report determines the gross written premiums collected in the market along with providing unbiased insights into the market dynamics and driving factors. The research study also gives a granular overview of the leading private motor insurance companies and the key challenges they are facing, in tandem with information on the strategic incentives taken.
Private Motor Insurance in the UK – Key Trends and Opportunities to 2018
Published: December, 2014
Price: US$ 2,795.00
Other Insurance Markets Reports by Timetric are Also Available:
- Commercial Motor Insurance in the UK, Key Trends and Opportunities to 2018
- Personal Accident and Health Insurance in Belgium, Key Trends and Opportunities to 2018
More in-demand market research studies by the publisher can be found at Timetric page.