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United Kingdom Insurance Report Q2 2016

United Kingdom Insurance Report Q2 2016

BMI View: Our outlook for the UK's insurance market is broadly positive at present. In the larger life insurance sector, improving household income rates and strong demographic trends will support a solid uptick in premium growth between 2016 and 2020, leading to life insurance accounting for over 75% of all insurance premiums written by the end of the forecast period. Growth will be more subdued in the non-life sector, partly a result of intense pricing pressure in highly competitive lines such as motor and property insurance, and also reflecting the overall maturity of this well-established market. Health and personal accident insurance will likely remain the strongest non-life growth sectors, outpacing the remainder of the non-life market. Key Updates & Forecasts

New regulations under Solvency II, which became effective across the EU on 1 January 2016, have come under criticism from the UK Treasury and the Bank of England, which have submitted a call for an earlier than planned review and key changes to the European Commission. The UK Treasury reportedly has concerns surrounding long-term investments, while the Bank of England has raised technical concerns.


BMI Industry View
Table: Headline Insurance Forecasts (United Kingdom 2013-2020)
SWOT
Insurance
Industry Forecast
Life Premiums Forecast
Table: Life Premiums (United Kingdom 2013-2020)
Table: Life Insurance Claims (United Kingdom 2008-2014)
Non-Life Premiums Forecast
Table: Non-Life Premiums (United Kingdom 2013-2020)
Table: Non-Life Insurance Claims (United Kingdom 2009-2013)
Non-Life Sub-Sector Forecast
Table: Non-Life Insurance Premiums by Product Line (United Kingdom 2013-2020)
Industry Risk Reward Ratings
Developed States Insurance Risk/Reward Index
Table: Developed States Insurance Risk/Reward Index - Q216
Market Overview
Life Market Overview
The Product Offering
The Competitive Landscape
Table: Life Insurance Premiums (USDmn), 2008-2013
Non-Life Market Overview
The Product Offering
The Competitive Landscape
Table: Non-Life Premiums (USDmn), 2008-2014
Company Profile
Ageas
Prudential plc
RSA
Standard Life
Methodology
Industry Forecast Methodology
Risk/Reward Index Methodology
Table: Indicators
Table: Weighting of Indicators

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