Dublin-based Research and Markets has added a report on UK Commercial Property Insurance 2005 to their offering, which provides “an in-depth analysis of the commercial property market in the UK, analyzing the key trends in premium income, claims and profitability – giving the reader insight into this market.”
R&M said the report “provides unique data on the size of the commercial property insurance market using ABI and FSA return data, including an analysis of the leading players. It includes exclusive survey findings about property insurance attitudes and needs from 168 UK-based SMEs. Detailed forecasts to 2009 for commercial property premium income and underwriting result are also provided. This report will give you an understanding of the views of leading industry executives as to the state of the market and the issues most likely to impact future growth.”
Highlights cited in the report include:
— Insurers are cutting their rates as extra capacity entered the market in 2004 through established and newer players. It is estimated that rates dropped by an average of three per cent over the whole year as the last half of 2004 was characterized by clear price cutting.
— The direct channel has the potential to grow its share of distribution. At present it would appear that it has approximately a 21.4 percent market share. However, 61.5 percent of SMEs say they would consider buying direct from an insurer.
— The gross claims ratio of each top ten insurer reduced in 2003, largely as a result of hard market conditions and benign weather conditions. The average gross claims ratio of the top ten insurers was 42.7 percent.
Topics covered in the report include:
– Market Context
– Distribution
– Targeting SME Customers
– Competitive Dynamics
– The Future Decoded
For more information visit http://www.researchandmarkets.com/reports/c17542, or contact Laura Wood, Senior Manager, Research and Markets, at:
press@researchandmarkets.com, or fax: +353 1 4100 980
Topics Trends Commercial Lines Business Insurance Pricing Trends Property
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