Performance Ratio Benchmarking in UK Accident & Health Insurance 2007

Published by: Datamonitor

Published: Sep. 17, 2007 - 18 Pages

Table of Contents

DATAMONITOR VIEW

CATALYST

SUMMARY

ANALYSIS

The top 10 accident and health insurers recorded an average loss ratio of 63.7% in 2006, with the majority seeing an increase in their loss ratio

The average loss ratio of 63.7% in 2006 was a 3.5 percentage point increase from 2005

Standard Life combined a growing book of business with a smaller loss ratio

Combined Insurance Company of America was the only top 10 accident and health insurer to see a loss ratio reduction other than Standard Life

Five insurers saw loss ratios increase at the same time as their books grew

New Hampshire and BUPA saw loss ratios increase while their books declined in size

The top 10 accident and health insurers recorded an average expense ratio of 29.9% in 2006, with Groupama seeing the biggest expense ratio reduction

The top 10 accident and health insurers recorded an average expense ratio of 29.9% in 2006

Three of the top 10 accident and health insurers saw their expense ratios decrease while their books grew

Combined Insurance Company of America saw its book shrink and its expense ratios reduce

Norwich Union, SimplyHealth and AXA saw expense ratios increase as their books expanded

Two insurers saw their expense ratios increase alongside a shrinking book of business

The top 10 accident and health insurers recorded an average combined ratio of 93.6% in 2006, although two of the biggest players saw their ratios move above 100%

The top 10 accident and health insurers achieved an average combined ratio of 93.6% in 2006

Groupama and Standard Life both saw their combined ratios decrease in 2006 and their books grow, but Groupama's ratio remained above 100%

Combined Insurance Company of America's loss ratio fell by 5.8 percentage points

Six of the top 10 insurers saw their combined ratios increase in 2006

APPENDIX

Definitions

Average

Total average

Earned premiums

Gross premium

Net premium

Written premiums

Loss ratio

Expense ratio

Combined ratio

Further reading

Ask the analyst

Datamonitor consulting

Disclaimer

List of Tables

Table 1: Change in premium income compared to change in loss ratio for the top 10 UK accident and health insurers, 2005-06

Table 2: Change in premium income compared to change in expense ratio for the top 10 UK accident and health insurers, 2005-06

Table 3: Change in premium income compared to change in combined ratio for the top 10 UK accident and health insurers, 2005-06

Table 4: Accident and health insurance premium income by competitor for the top 20 UK accident and health insurers, 2005-06

Table 5: Loss ratio for the top 20 UK accident and health insurers, 2005-06

Table 6: Expense ratio for the top 20 UK accident and health insurers, 2005-06

Table 7: Combined ratio for the top 20 UK accident and health insurers, 2005-06

List of Figures

Figure 1: Only two of the top 10 UK accident and health insurers achieved better loss ratios in 2006

Figure 2: Numerous UK accident and health insurers saw their expense ratios increase in 2006

Figure 3: Six of the top 10 UK accident and health insurers recorded higher combined ratios in 2006

Abstract

• Loss, expense and combined ratio figures for the top 10 UK accident and health insurers
• GWP data for the top 10 UK accident and health insurers

• Benchmark your performance against your competitors using Datamonitor's loss, expense and combined ratio information
• Understand the average ratio experience of the top ten UK accident and health insurers

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