Synopsis
• The report provides market analysis and insights into the UK household insurance business.
• It also provides a snapshot of the market size and dynamics.
• The report discusses key drivers, distribution channels and the outlook for the market.
• It also summarizes deals, news and regulatory developments in the category.
Scope
• This report provides a comprehensive analysis of the household insurance market in the UK.
• It provides historical values for the UK household insurance market for the report’s 2009-2013 review period, and projected figures for the 2014-2018 forecast period.
• It offers analysis and outlooks of claims and distribution channels.
• It provides an overview of market dynamics and market drivers.
• It profiles top household insurers in the UK and outlines their performances.
Summary
This report is the result of extensive research into the household insurance industry in the UK, covering the market dynamics, competitive landscape and consumer perspectives through insights and forecasts. It also discusses key products and distribution channels and gives an overview of the leading companies in the category, along with details of strategic initiatives undertaken.
Reasons To Buy
• Gain an understanding of the UK household insurance market.
• Learn about the performance of market drivers, distribution channels and market dynamics.
• Explore key competitors in the category and their performances.
• Find out more on key regulations and recent developments in the market.
Table Of Contents
1 Executive Summary
2 Introduction
2.1 What is this Report About?
2.2 Definitions
2.3 Methodology
3 Market Analysis
3.1 Market Background
3.2 Market Size
3.2.1 Penetration and density
3.2.2 Breakdown by policy type
3.3 Claims
3.3.1 Claims review
3.3.2 Bogus claims
3.3.3 Claims outlook
3.4 Market Drivers
3.5 Market Outlook
3.6 Distribution Channels
3.6.1 Distribution outlook
4 Competitive Landscape
4.1 Profitability
4.1.1 Profitability outlook
4.2 Review - Company Performance in 2013
4.3 Household Insurance - SWOT Analysis
5 Porter’s Five Forces Analysis
5.1 Bargaining Power of Suppliers: Low
5.2 Bargaining Power of Buyers: Medium to High
5.3 Barriers to Entry: Low
5.4 Intensity of Rivalry: Medium to High
5.5 Threat of Substitution: Low
6 Deals and News
6.1 Legal & General to Withdraw from the ABI
6.2 FCA Investigates Add-On Practice in Non-Life Insurance
6.3 ABI Requests FCA to Provide Clarity on Insurance Renewals
6.4 British Insurers Criticize EU Insurance Solvency II Regulation
6.5 Zurich Brand to Disappear from Price-Comparison Websites
6.6 Co-operative Group Terminates plans to Divest General Insurance Business
7 Regulation and Compliance
7.1 Regulatory Changes
7.1.1 Consumer Insurance (Disclosure and Representations) Act
7.2 Upcoming Regulation
7.2.1 Riots Damages Act Reform
7.2.2 The Flood Reinsurance Scheme
7.2.3 Solvency II
8 Consumer Perspective
8.1 Consumers Favor Renewal over Switching
8.2 The Importance of Household Insurance
8.3 Price-Comparison Websites
9 Economic Backdrop
9.1 Real GDP growth
9.2 Labor Market Conditions
9.3 Housing Market
9.4 Inflation and Interest Rates
10 Company Profiles
10.1 Ace European Group Ltd - Company Overview
10.1.1 Ace European Group Ltd - key facts
10.1.2 Ace European Group Ltd - main products
10.1.3 Ace European Group Ltd - main competitors
10.1.4 Ace European Group Ltd - key employees
10.2 Ageas (UK) Ltd - Company Overview
10.2.1 Ageas (UK) Ltd - key facts
10.2.2 Ageas (UK) Ltd - main products
10.2.3 Ageas (UK) Ltd - main competitors
10.2.4 Ageas (UK) Ltd - key employees
10.3 Aviva Plc - Company Overview
10.3.1 Aviva Plc - key facts
10.3.2 Aviva Plc - main products
10.3.3 Aviva Plc - main competitors
10.3.4 Aviva Plc - key employees
10.4 Axa UK Plc - Company Overview
10.4.1 Axa UK Plc - key facts
10.4.2 Axa UK Plc - main products
10.4.3 Axa UK Plc - main competitors
10.4.4 Axa UK Plc - key employees
10.5 Direct Line Insurance Group Plc - Company Overview
10.5.1 Direct Line Insurance Group Plc - key facts
10.5.2 Direct Line Insurance Group Plc - main products
10.5.3 Direct Line Insurance Group Plc - main competitors
10.5.4 Direct Line Insurance Group Plc - key employees
10.6 Legal & General Group Plc - Company Overview
10.6.1 Legal & General Group Plc - key facts
10.6.2 Legal & General Group Plc - main products
10.6.3 Legal & General Group Plc - main competitors
10.6.4 Legal & General Group Plc - key employees
10.7 Lloyds Banking Group Plc - Company Overview
10.7.1 Lloyds Banking Group Plc - key facts
10.7.2 Lloyds Banking Group Plc - main products
10.7.3 Lloyds Banking Group Plc - main competitors
10.7.4 Lloyds Banking Group Plc - key employees
10.8 National Farmers Union Mutual Insurance Society - Company Overview
10.8.1 National Farmers Union Mutual Insurance Society - key facts
10.8.2 National Farmers Union Mutual Insurance Society - main products
10.8.3 National Farmers Union Mutual Insurance Society - main competitors
10.8.4 National Farmers Union Mutual Insurance Society - key employees
10.9 Royal & Sun Alliance Insurance Plc - Company Overview
10.9.1 Royal & Sun Alliance Insurance Plc - key facts
10.9.2 Royal & Sun Alliance Insurance Plc - main products
10.9.3 Royal & Sun Alliance Insurance Plc - main competitors
10.9.4 Royal & Sun Alliance Insurance Plc - key employees
10.10 Zurich Insurance Plc - Company Overview
10.10.1 Zurich Insurance Plc - key facts
10.10.2 Zurich Insurance Plc - main products
10.10.3 Zurich Insurance Plc - main competitors
10.10.4 Zurich Insurance Plc - key employees
11 Statistics Review Period 2009-2013
12 Appendix
12.1 Methodology
12.2 Contact Us
12.3 About Timetric
12.4 Disclaimer
List Of Tables
Table 1: Insurance Industry Definitions
Table 2: UK Household Insurance - Best Annual Performers, 2013
Table 3: UK Household Insurance - Market SWOT Analysis
Table 4: UK Home Insurance - Research Prior to Purchase
Table 5: Ace European Group Ltd, Key Facts
Table 6: Ace European Group Ltd, Main Products
Table 7: Ace European Group Ltd, Key Employees
Table 8: Ageas (UK) Ltd - Key Facts
Table 9: Ageas (UK) Ltd - Main Products
Table 10: Ageas (UK) Ltd - Key Employees
Table 11: Aviva Plc - Key Facts
Table 12: Aviva Plc - Main Products
Table 13: Aviva Plc - Key Employees
Table 14: Axa UK Plc - Key Facts
Table 15: Axa UK Plc - Main Products
Table 16: Axa UK Plc - Key Employees
Table 17: Direct Line Insurance Group Plc - Key Facts
Table 18: Direct Line Insurance Group Plc - Main Products
Table 19: Direct Line Insurance Group Plc - Key Employees
Table 20: Legal & General Group Plc, Key Facts
Table 21: Legal & General Group Plc, Main Products
Table 22: Legal & General Group Plc, Key Employees
Table 23: Lloyds Banking Group Plc, Key Facts
Table 24: Lloyds Banking Group Plc, Main Products
Table 25: Lloyds Banking Group Plc, Key Employees
Table 26: National Farmers Union Mutual Insurance Society, Key Facts
Table 27: National Farmers Union Mutual Insurance Society, Main Products
Table 28: National Farmers Union Mutual Insurance Society, Key Employees
Table 29: Royal & Sun Alliance Insurance Plc - Key Facts
Table 30: Royal & Sun Alliance Insurance Plc - Main Products
Table 31: Royal & Sun Alliance Insurance Plc - Key Employees
Table 32: Zurich Insurance Plc - Key Facts
Table 33: Zurich Insurance Plc - Main Products
Table 34: Zurich Insurance Plc - Key Employees
Table 35: Household Insurance (GBP Thousand), 2009-2013
List Of Figures
Figure 1: Households in the UK - Number and Average People Size, 2000-2013
Figure 2: UK Household Insurance - Gross Written Premiums, 2009-2013
Figure 3: UK Household Insurance - Penetration Rate and Density, 2009-2013
Figure 4: UK Household Insurance - Breakdown by Policy Type
Figure 5: UK Household Insurance - Net Claims Paid, 2009-2013
Figure 6: UK Household Insurance - Net Claims Paid and Incurred, 2009-2013
Figure 7: UK Household Insurance - Burglary Statistics, 2001-2013
Figure 8: UK Household Claims by Type of Claim, 2013
Figure 9: UK Household Insurance - Gross Written Premium Forecast, 2014-2018
Figure 10: Commissions Paid by UK Household Insurers, 2009-2013
Figure 11: Combined Operating Ratio for Total Household Insurance Business, 2009-2013
Figure 12: Net Earned Premiums for UK Household Insurance, 2009-2013
Figure 13: Loss and Expenses Ratios for Total UK Household Insurance Business, 2009-2013
Figure 14: GWP of the Five Largest UK Household Insurers, 2009-2013
Figure 15: Market Share (GWP) of the Five Largest UK Household Insurers, 2013
Figure 16: Market Share (GWP) of UK Household Insurers by Tier, 2011-2013
Figure 17: UK Household Insurance - Five Forces Analysis
Figure 18: The UK’s Insurance Regulatory Framework
Figure 19: UK Household Insurance - Circumstances of Purchase
Figure 20: UK Household Insurance - How Important is a Policy?
Figure 21: UK Household Insurance - Methods of Purchase
Figure 22: UK Real GDP Growth (%), 2009-2018
Figure 23: UK Unemployment and Redundancy Rates (%), 2004-2013
Figure 24: UK Average Weekly Earnings (GBP), 2004-2013
Figure 25: UK Housing Construction Growth (%), 2004-2013
Figure 26: Growth in Mortgage Lending and House Prices, 2004-2013
Figure 27: UK Average House Prices by Type of Buyer (GBP), 2007-2013
Figure 28: UK Headline and Housing-related Inflation, 2004-2013
Figure 29: UK Bank of England Rate (%), 2003-2014
