Abstract
Overview
Introduction
The report provides a detailed analysis of the current size and composition of
the UK creditor insurance market at a time of great upheaval. In addition to a
discussion of regulatory issues, it provides PPI customer and competitor
information that allow for a more complete understanding of the market. The
report also provides a forecast of creditor insurance GWP up until 2011.
Scope
- Creditor insurance market sizing, product penetration and competitor
premium income data
- In depth analysis of the underlying consumer credit market including
sizing for personal loans, credit cards, mortgages, retail and motor finance
- A discussion of the FSA' s work on the creditor market and the current
Competition Commission investigation
Report Highlights
Based on primary research with interviewees as well as secondary data,
Datamonitor has estimated the penetration rate of PPI on each main lending
product. Datamonitor estimates that the penetration rate of PPI is highest on
personal loans at 41 per cent followed by 26 per cent for mortgages and 19 per
cent for retail finance.
The most negative recommendation for the market would be for the full
de-linking of the product from the underlying credit purchase which could have
a significant negative impact on sales of creditor insurance.
Gross advances in the UK mortgage market are forecast to reach £357.2 billion
in 2007 and increase steadily thereafter to stand at £395.1 billion in 2011.
Reasons to Purchase
- Benchmark your creditor insurance premium income against your competitors
- Plan your future strategy using Datamonitor' s forecast of the future
growth of the creditor insurance market
- Understand the work that the FSA and Competition Commission are carrying
out on the market
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