Abstract
Overview
Introduction
In 2006, the commercial property insurance market contracted as soft market
conditions took hold. This brief provides an in-depth analysis of the current
and future commercial property market in the UK, analyzing the key trends in
premium income, claims and profitability.
Scope
- Extensive analysis of GWP and underwriting result are provided for the
commercial property insurance market
- A discussion of trends in commercial property claims and issues that will
effect future risks.
- Three scenarios forecasting the market' s GWP growth until 2011, based on
primary research and in-house expertise.
Report Highlights
Commercial property insurance GWP declined by 6.9 per cent in 2006 to £4.9
billion. The principle driver for the decline was increased competition.
Commercial property claims costs decreased significantly in 2006, following a
difficult year in 2005. Claims costs resulting from fire and weather damage
declined, and as a result, business interruption costs also moderated
On balance the market is expected to have seen further rate decreases in 2006
and is forecast to see premium rate deflation in 2007.
Reasons to Purchase
- Gain insight into the issues currently affecting the commercial property
market' s growth and profitability.
- Understand the trends and recent developments within commercial property
claims
- Develop your future commercial property strategy using Datamonitor' s
unique forecasts
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