[Report] UK Motorcycle Insurance TOC

Overview
- Catalyst
- Summary
Table of Contents
Table of figures
Table of tables
Market Context
- Introduction
- UK motorcycle insurance GWP grew slightly in 2006 but contracted in 2007 due to falling premium rates
  - Slow growth in bike numbers and lower premium rates resulted in only a slight increase in motorcycle GWP in 2006
  - Competitive pressure on premium rates resulted in an estimated market contraction of 1.0% in 2007
- Premium rates fell again in 2007, while vehicle numbers continued to slowly increase
  - Premium rates declined for motorcycle risks in both 2006 and 2007
  - The motorcycle parc has continued to expand, bolstering the size of the market
  - The motorcycle parc has become older, though new registrations have not fallen much since 2004
    - Approximately the same number of new bikes were registered in 2006 as in 2005
    - Almost half of all motorcycles on Britain' s roads were first registered more than five years ago
  - The motorcycle market remains bifurcated, with the largest and smallest models the most popular
  - The Suzuki GSXR 1000 became the most sought after motorcycle in 2007
    - Green bikes may rise in popularity in the future
- Casualty and theft rates influence the claims bill for motorcycle insurance
  - Claims involving personal injury continued to drive claims inflation due to high medical and legal costs
  - Casualty rates are down, which should result in lower claims frequency for insurers
    - The pass rate for motorcycle tests have fallen slightly over the last decade
  - Theft rates also influence the motorcycle claims bill
Competitive Dynamics
- Introduction
- Few of the top motorcycle insurers managed to increase market share in 2006
  - Only two top 10 insurers, Equity Red Star and QBE, increased their market share in 2006
  - The majority of the top 10 motorcycle insurers lost premium income and market share in 2006
  - Some insurers began recording motorcycle premium income for the first time in 2006
- Distribution is dominated by a few specialist brokers
  - Specialist brokers Carole Nash, Bennetts and Devitt dominate the distribution of motorcycle insurance
    - Carole Nash, now part of Groupama, is the largest motorcycle insurance broker in the UK
    - Bennetts is the second largest broker in the UK distributing over 200,000 motorcycle policies a year
    - Devitt, which is owned by RBSI, focuses on distributing insurance through motorcycle dealers
  - Motorcycle dealers and manufacturers have long been a key route to market for motorcycle insurance
- Brokers advertising via the press dominated motorcycle insurance advertising in 2006
  - The amount spent on motorcycle advertisement increased in 2006 and brokers dominated the top 10
  - Press advertising in trade publications dominated the spend of the top advertisers
Future Decoded
- Introduction
- Motorcycle insurance GWP is forecast to increase in the near term before contracting again
  - A number of factors influence future GWP growth in the motorcycle market
  - Motorcycle GWP is expected to grow in most of the forecast period as competitive pressure lessens
APPENDIX
- Supplementary data
- Definitions
  - Premium income measures
    - Earned premiums
    - Gross Premium
    - Net Premium
    - Written premiums
  - Other definitions
    - Channel
    - Direct insurer/writer
    - Brokers
    - Bancassurers
    - Brandassurers
    - Platform
  - 2005-06 definitions for line of business
    - Motor
    - Total private motor
    - Private motor comprehensive
    - Private motor non-comprehensive
    - Motorcycle
  - Pre-2005 definitions for lines of business
    - Motor
- Methodology
  - Primary and secondary research
  - Market size
    - Changes in market size information
    - Market size methodology
    - Lloyd' s players and underwriting result figures
  - Competitor data
    - CIS
    - GWP versus GEP reporting
    - Home-Foreign, overseas and facultative reinsurance business
  - Advertising statistics
- Further reading
- Ask the analyst
- Datamonitor consulting
- Disclaimer
- List of Tables
  - Table 1: UK motorcycle insurance GWP, 2002-07e (£m)
  - Table 2: Motorcycle parc in Great Britain by body type, 2002−06 (000s)
  - Table 3: Motorcycles registered for the first time in Great Britain by body type, 2002−06 (000s)
  - Table 4: Motorcycle parc by age of first registration by body type, 2006 (000)
  - Table 5: Motorcycle parc by engine size and body type, 2002-06 (000s)
  - Table 6: Top 10 new motorcycle registrations by brand, year to date, November 2007
  - Table 7: Road traffic casualties in Great Britain, 1996-2006
  - Table 8: Number of motorcycle tests and pass rate in Great Britain, 1997/98−2006/07
  - Table 9: Theft of and from motor vehicles in the UK, 1996-2006/7
  - Table 10: Top 10 motorcycle insurers by market share, 2002-06
  - Table 11: UK motorcycle insurance competitors by premium income, 2002−06 (£000)
  - Table 12: Policy numbers and market share of top three UK motorcycle insurance brokers, 2007
  - Table 13: Top 10 motorcycle insurance advertisers, 2005−06 (£)
  - Table 14: Top 10 motorcycle insurance advertisers by media, 2006 (£)
  - Table 15: Key variables affecting motorcycle insurance GWP, 2007e-12f
  - Table 16: UK motorcycle insurance GWP forecast, 2002-12f (£m)
  - Table 17: Licensed motorcycles in Great Britain by taxation class as a proportion of total vehicle stock, 2002-06 (000s)
  - Table 18: New motorcycle registrations in Great Britain by taxation class, 2002-06 (000s)
- List of Figures
  - Figure 1: Motorcycle GWP declined in 2007 after a slight increase in 2006
  - Figure 2: Bike numbers are growing, but at a slower rate than in previous years
  - Figure 3: The number of new bike registrations have remained almost flat since 2004
  - Figure 4: Bikes over 500cc, touring and superbikes, have dominated the market over the last five years
  - Figure 5: Motorcycle casualties as a proportion of total road casualties have fallen since 2003
  - Figure 6: Motorcycle test pass rates have fallen between 1997 and 2006, but increased in the last year
  - Figure 7: Theft of and from motor vehicles continued to decline in 2006/7
  - Figure 8: The market leader, Equity Red Star, increased its market share in 2006
  - Figure 9: The RBSI broker Devitt spent the largest amount marketing motorcycle insurance in 2006
  - Figure 10: Advertising in the press was the favored medium for motorcycle insurance providers in 2006
  - Figure 11: UK motorcycle premium income is forecast to increase slowly through most of the forecast period

UK Motorcycle Insurance 2007

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