Abstract
Overview
Introduction
This report provides a comprehensive analysis of the commercial property
insurance market in the UK. It looks at the size of the market, claims costs
and the main market trends. It also analyses the competitive landscape
providing market share information and includes forecasts of the size of the
market and the profitability of the market up until 2012.
Scope
- In-depth analysis of GWP and the underwriting result for the commercial
property insurance market
- Data on the key drivers of claims inflation
- Three different scenarios looking at the future prospects for premium
income and claims inflation until 2012.
Highlights
Intense competition in the commercial property market saw GWP continue on its
downward trajectory. It shed a further 7.1% off its 2006 level falling to £4.6
billion. After three consecutive years of decline, the market looks on the
verge of turning the corner, with increased underwriting discipline set to
return to the market.
The dynamics of commercial insurance distribution have shifted between 2003
and 2006 and certain categories of broker have seen their share of
distribution diminish. In particular, national brokers saw their distribution
share decline from 54% in 2003 to 48% by 2006.
Reasons to Purchase
- Gain a deeper insight into key trends in the UK commercial property market
- Understand how the distribution channel is evolving in the commercial
property insurance market
- Gain an understanding of the latest competitive developments within the
market
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