英國個人產物保險市場 是由出版商Datamonitor在2009年10月所出版的。
這份英文市場調查報告書包含78 pages 價格從美金4495起跳。
本報告書內容包括：英國個人產物保險市場現況及預測調查分析、市場結構、市場環境、市場業績及各種影響因素、通路動向、主要企業動向、保險類型別市場規模現況・預測（至2013年）等。內容綱要摘記如下：
概要
實施概要
市場狀況
- 介紹
- 對保險業者而言的狀況惡化
- 保險業者：因投資收益減少而受打撃
- 資金釋出支撐財務報表利益
- 個人保險：整體而言有其吸引力
流通動向
- 介紹
- 仲介業者・保險直銷業者・銀行取得市場佔有率：個人保險市場
- 前幾大廣告主Direct Line・Aviva也致力於行銷
- 幾乎所有的主要廣告主都致力於汽車保險商品的TV廣告
競爭力學
- 介紹
- RBS・Aviva：持續領導個人保險市場
- Lloyds Banking Group：收購HBOS後業績變成2倍
- Fortis：簽訂與Tesco的轉換交易
未來展望
- Fortis・Liverpool Victoria：逐漸成為個人保險市場的大型企業
- 2009年的交易結果嚴峻
- 個人市場的市場規模：2013年可望達到290億英鎊的規模
附錄
圖表
Abstract
Introduction
This unique report provides an unrivalled analysis of the UK general insurance
market with a specific focus on the personal lines sector. It segments the
market by line of business and assesses underwriting profits and investment
income. The research also includes an in-depth analysis of the distribution
and competitive landscape and forecasts the personal lines market size to 2013.
Scope of this research
- Data on the size, structure and profitability of the total non-life market
and the personal lines sector.
- Insight into the different methods of distributing personal lines
insurance products and the changes in the landscape.
- Analysis of the total premiums and market share for the largest personal
lines insurance groups.
- A discussion of the main factors affecting the general insurance market in
the future along with forecasts of market size to 2013.
Research and analysis highlights
The merger of Lloyds TSB and HBOS has meant that the newly formed Lloyds
Banking Group becomes the fourth largest personal lines group following the
combination of a number of insurance companies owned by the group including
Lloyds TSB General Insurance, esure and St Andrew' s.
Against the backdrop of an increasing COR for the total non-life market, the
personal lines sector shone out at an overall level. Datamonitor' s analysis of
FSA Returns shows the personal lines sector (which we take to be PL motor,
household, accident & health and personal financial loss) returned a COR of
103%, net of reserve developments.
Key reasons to purchase this research
- Understand the segmentation of the UK general insurance market and the
differing profitability by class of business.
- Benchmark your premium income against that of your competitors and
understand the drivers of growth in their business.
- Gain insight into the future development of the market in terms of
competitors, major issues and market size.
Table of Contents
OVERVIEW
EXECUTIVE SUMMARY
- The industry returned a respectable trading result with personal lines
performing well at an overall level
- A respectable profit on the face of it
- Personal lines was attractive at the top level
- There have been significant changes to market positions and more changes
may be on their way
- Lloyds Banking Group storms into the top 10
- Fortis and Liverpool Victoria are set to become a much larger force in
personal lines
- 2009 has been a challenging year however the market is set to grow between
2009 and 2013
- 2009 has been a challenging year so far
- Total personal lines premiums are expected to grow between 2010 and 2013
MARKET CONTEXT
- Introduction
- Conditions are deteriorating for insurers
- The market contracted in 2008 as insurers continued to compete hard
- Insurers pulled capacity from suretyship insurance
- Motor and property insurance continue to dominate the UK non-life
insurance market
- Lloyd' s of London underwrites around £2 billion of UK insurance
- Motor, liability, property and pecuniary loss have driven the COR up in
recent years
- Pecuniary loss is a strong source of underwriting profit
- Insurers are being hit by falling investment income
- A drop in investment income put additional pressure on insurers' margins
in 2008
- Insurers saw an estimated trading result of 9% of NWP in 2008
- Reserve releases are propping up reported profits
- Insurers propped up their reported underwriting results with around
£1 billion in reserve releases
- Insurers made significant reserve releases in motor and property
insurance while strengthening reserves for liability insurance
- Personal lines insurance is attractive, at an overall level
- Personal lines continued to see muted growth but benefitted from a low
COR
- The personal insurance market was worth £24.7 billion in 2008
- Household, A&H and personal pecuniary loss are compensating for the poor
motor COR
- Pecuniary loss is the largest profit pool in the personal lines sector
- Insurers made significant reserve releases in personal motor insurance
DISTRIBUTION
- Introduction
- Brokers, direct insurers and banks gained market share in the personal
insurance market
- Brokers continued to be the leading personal insurance distribution
channel in 2008
- The direct channel grew in 2008, achieving its highest market share ever
- Banks increased their market share through significant increases in
motor insurance sales
- Affinity players' market share contracted as motor premium income fell
- Other company agents and staff lost market share in 2008
- Direct Line continues as the top general insurance advertiser, though
Aviva has stepped up its marketing
- The market leader, Direct Line, continued to invest in its brand and is
likely to equal its 2008 outlays
- At half year, Aviva had already spent as much as its entire 2008
marketing outlay
- The aggregators have launched new campaigns in 2009 underscoring the
competitive nature of the market
- Most top insurance advertisers made use of television advertising for
their motor products
- Television accounted for the bulk of the top 10' s insurance marketing
- Though spending on motor appears to be down, it remained the focus of
most advertising campaigns
COMPETITIVE DYNAMICS
- Introduction
- RBS and Aviva continue to lead the market in personal lines
- RBS was the largest personal lines insurer in 2008
- Aviva retained its position as the UK' s second largest personal general
insurer in 2008
- Lloyds Banking Group has doubled its presence through the acquisition of
HBOS
- AXA increased its GWP by 4.5% in 2008
- Lloyds Banking Group doubled its insurance presence after it merged with
HBOS
- BUPA saw its GWP increase by 3.5% in 2008
- RSA was the 6th largest personal insurance group
- Zurich achieved significant growth in its personal lines premium income,
which was chiefly driven by private motor
- Fortis has signed a transformational deal with Tesco
- Fortis has signed a transformational deal with Tesco
- Munich Re grew its personal book by 4.3% due to household, pecuniary
loss and accident & health lines
- Allianz' s personal pecuniary loss business saw significant growth
- Liverpool Victoria increased its presence in personal lines with the
acquisition of Highway
FUTURE DECODED
- Fortis and Liverpool Victoria are on track to become bigger players in
personal lines
- Fortis' s new deal with Tesco could transform the size of the insurer
- Liverpool Victoria is aggressively growing its business
- The industry trading result will be challenging in 2009
- Profits are expected to dip in 2009
- Investment returns will fall
- Reserve releases are expected to continue in 2009
- Profits are likely to be impacted by a sharp rise in the pecuniary loss
COR in 2009 and 2010
- The personal market size is forecast to reach £29 billion in 2013
- The personal market size is expected to fall further in 2009 before
growing again between 2010 and 2013
- Private motor GWP is forecast to reach £12 billion in 2013
- Household GWP is forecast to reach £7.6 billion in 2013
- The A&H market is forecast to reach £6.2 billion in 2013
- The pecuniary loss market is forecast to reach a value of £3.4
billion in 2013
APPENDIX
- Additional data
- Further reading
- Ask the analyst
- Datamonitor consulting
- Disclaimer
TABLES
- Table: Annual growth in general insurance market, 2000 - 08 (%)
- Table: GWP by line of business, 2000 - 08 (£m)
- Table: UK insurance market split by ABI members and Lloyd' s of London,
2008 (£m)
- Table: Total market combined ratio, 2004 - 08 (%)
- Table: Accident year CORs by line of business, 2004 - 08 (%)
- Table: Underwriting result by line of business, 1998 - 2008 (£m)
- Table: Underwriting result, investment income and trading result as a
percentage of NWP (worldwide business of UK insurers), 2000 - 08
- Table: Underwriting result, investment income and trading result as a
percentage of NWP (UK business), 2000 - 08
- Table: Personal insurance market size, 2005 - 08 (£m)
- Table: Accident year CORs by line of personal business, 2005 - 08 (%)
- Table: Underwriting result by line of personal business, 1998 - 2008
- Table: Personal general insurance GWP distribution by channel, 1999 - 2008
- Table: Top 10 personal general insurance advertisers, 2007 - 09 H1,
(£)
- Table: Top 10 personal general insurance advertisers' spend by media, 2007
- 09 H1 (£000)
- Table: Top 10 personal general insurance advertisers' spend by product,
2007 - 09 H1 (£000)
- Table: GWP and market share of the top 10 UK personal general insurance
groups, 2007 - 08
- Table: Forecast of personal general insurance GWP, 2009 - 13
- Table: Key variables affecting private motor insurance GWP, 2009 - 13
- Table: Forecast of private motor insurance GWP, 2009 - 13 (£m)
- Table: Key variables affecting household insurance GWP, 2009 - 13
- Table: Forecast of household insurance GWP, 2009 - 13 (£m)
- Table: Key variables affecting A&H GWP, 2009 - 13
- Table: Forecast of A&H GWP, 2009 - 13
- Table: Forecast of personal pecuniary loss GWP, 2009 - 13 (£m)
- Table: Total UK pecuniary loss underwriting account, 1998 - 2008
- Table: Total UK property underwriting account, 1998 - 2008
- Table: Total UK household underwriting account, 1998 - 2008
- Table: Total UK commercial property underwriting account, 1998 - 2008
- Table: Total UK motor underwriting account, 1998 - 2008
- Table: Total UK personal motor underwriting account, 1998 - 2008
- Table: UK commercial motor underwriting account, 1998 - 2008
- Table: UK liability underwriting account, 1998 - 2008
- Table: UK accident & health underwriting account, 1998 - 2008
FIGURES
- Figure: The industry has experienced slow or negative growth in recent
years due to strong competition
- Figure: Increases in the liability and property sectors were offset by
falls in motor, A&H and pecuniary loss
- Figure: Motor and property continue to be the two largest lines of business
- Figure: Lloyd' s of London underwrites around 5% of the UK insurance market
- Figure: The combined ratio for the total market bottomed out in the years
2004 - 06 but it has increased to 108% in 2008
- Figure: Motor, liability, property and pecuniary loss have seen increasing
CORs
- Figure: Pecuniary loss and A&H are a steady source of profits
- Figure: Investment income as a percentage of premiums fell to an all time
low in 2008 due to the financial crisis
- Figure: The trading result for UK business fell in 2008 however it was
broadly in line with the across-the-cycle trading result
- Figure: Insurers have bolstered reported profits with massive reserve
releases in the years 2005 - 08
- Figure: Insurers made significant reserve releases in motor and property
insurance while strengthening reserves for liability
- Figure: Growth has been subdued in personal lines in recent years as the
personal lines COR has been relatively low
- Figure: Personal motor is the largest line in the personal market
- Figure: A high COR in personal lines motor is balanced out by attractive
CORs in personal pecuniary loss, household and A&H
- Figure: Pecuniary loss and A&H have been a consistent source of
underwriting profits
- Figure: Insurers released over £400m of prior years' reserves in
order to improve the reported underwriting result in personal motor insurance
- Figure: Brokers have recaptured some of the market share they have lost
since 1999
- Figure: Aviva was the second largest advertiser in the market as it rolled
out an extensive rebranding campaign
- Figure: Television campaigns were the largest expense for most top
insurance advertisers
- Figure: Motor insurance received the lion' s share of insurance advertising
funds in the first half of 2009
- Figure: Zurich has invested heavily in marketing campaigns promoting its
direct insurance products in 2009
- Figure: The merger with HBOS boosted the share held by Lloyds Banking Group
- Figure: Liverpool Victoria' s acquisition of Highway has increased its
share of the personal market to 2.3%
- Figure: Insurers are likely to see a sharp rise in the pecuniary loss COR
judging from the effects of the last recession in 1990
- Figure: The personal market is expected to contract in 2009 as the
creditor market shrinks
- Figure: Private motor insurance GWP will grow strongly over the forecast
period
- Figure: Household GWP will rise at an average annual rate of 3%, reaching
£7.6 billion in 2013
- Figure: The A&H sector is forecast to reach £6.2 billion in GWP by
2013
- Figure: Personal pecuniary loss GWP will dip in 2009 as the creditor
market contracts before seeing growth thereafter
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