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Motor Vehicle Insurance in the UK - Industry Market Research Report

Publisher IBISWorld
Published Sep 02, 2024
Length 72 Pages
SKU # IBSS19342978

Description

Motor Vehicle Insurance in the UK - Industry Market Research Report


Motor Vehicle Insurance in the UK

Motor Vehicle Insurance revenue is forecast to dip at a compound annual rate of 1.9% over the five years through 2023-24 to £19.9 billion, including an estimated growth of 3.3% in the current year. Often, insurers invest the premiums earned from insurance activities to generate additional income. Since the Solvency II EU directive came into force on January 1 2016, profitability has been constrained as the level of regulation regarding investment picked up. This was worsened by changes to the Ogden rate in March 2017, which lifted the payout due to a claimant compared to the same settlement at the old rate. Rising tax rates in recent years has also resulted in less fruitful operating conditions.Operators in this industry provide both private passenger and commercial insurance coverage. Motor vehicle insurance covers the insured party for any loss incurred through damage to property or person as the result of a car accident, including theft.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares."

Table of Contents

72 Pages
ABOUT THIS INDUSTRY

Industry Definition
Main Activities
Similar Industries
Additional Resources

INDUSTRY AT A GLANCE

INDUSTRY PERFORMANCE

Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle

PRODUCTS & MARKETS

Supply Chain
Products & Services
Major Markets
Globalisation & Trade
Business Locations

COMPETITIVE LANDSCAPE

Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry

MAJOR COMPANIES

OPERATING CONDITIONS

Capital Intensity

KEY STATISTICS

Industry Data
Annual Change
Key Ratios

JARGON & GLOSSARY

Pricing

Currency Rates
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