Summary
Soft
market conditions endure in a UK household insurance market with high levels of
competition and capacity, and a continuing shift in customer buying habits.
Despite this, the market continues along a profitable path for as long as it
can rely on relatively benign weather conditions.
Synopsis
Verdict
Financial's UK Household Insurance: Market Dynamics and Opportunities report
provides an in-depth analysis of the UK household insurance market. It looks at
market size and performance ratios as well as changes in premiums, claims,
contextual and economic factors, regulations, and opportunities. It provides a
thorough overview of the market along with future forecasts and analysis of
emerging technologies and products.
Read Complete
Report with TOC @ http://www.radiantinsights.com/research/uk-household-insurance-market-dynamics-and-opportunities
Key Findings
-
UK household insurance gross written premium (GWP) fell by 3.8% in 2015,
hampered by tough underwriting conditions in a competitive market. Home
insurance premium rates are currently reported to be largely flat to slightly
negative across the UK as a whole.
-
In spite of winter 2015 storms, home insurance remains profitable, with a 94.6%
combined operating ratio (COR) in 2015, compared to 93.4% in 2014. The sector
has been propped up by several benign weather years and has benefited from
reserve releases.
Related Reports by Radiant Insights:
UK Travel Insurance: Competitor Dynamics 2016 -
Consumer Payments Country Snapshot: Norway 2016 -
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