Research and Markets (http://www.researchandmarkets.com/research/4f9cf0/uk_private_motor_i) has announced the addition of the “UK Private Motor Insurance 2010” report to their offering.
UK Private Motor Insurance 2010 contains a comprehensive overview of the market. It provides the total market size, policy numbers, profitability ratios, claims costs, premium rate changes, car registrations, distribution, penetration, competitor analysis and forecast for up to 2014 for both market size and profitability ratios.
Detailed information and data about the current state of the market and how insurers are responding to poor profitability.
The findings of The 2010 consumer survey which assessed the opinions and purchasing trends of over 3,000 individuals.
An update of the latest developments in the aggregator space.
Financial results of the top UK, Lloyds of London and non-UK domiciled insurers in the market.
Highlights of this title
In 2009, the non-comprehensive motor sector experienced a further decline and it now accounts for only 8.2% of all private motor policies in force. This share has fallen from 16.3% (2.9 million) in 1999 as private motor insurers have moved away from this sector of the market.
The market made little reserve releases, indicating that the pool of reserves which is often used to protect an insurer against prior years’ claims has all but dried up. In fact a few insurers, such as RBS, made a reserve strengthening, thus making its reported year COR higher than its accident year ratio.
The survey showed that over half of all car insurance policyholders surveyed are now visiting price comparison sites at renewal. This comes as no surprise considering that these websites have heavily advertised throughout the past few years and so generated sufficient traffic from consumers.
Key reasons to purchase this title
Comprehensively understand most aspects of the market and the views of market players interviewed by Datamonitor.
See how the industry is responding to poor profitability and rising clams costs.
Make conclusions based on the current purchasing trends and preferences of UK consumers buying private motor insurance.
Key Topics Covered:
The private motor market shrunk slightly in 2009
The total market declined by 1% to 9.2 billion GWP
Over the past decade, the proportion of non-comprehensive policies has fallen
Claims costs are continuing to escalate
Claims inflation has been driven by personal injury claims and credit hire costs
Although claims frequency fell slightly to 16.7% in 2009
RBS Group is the largest provider of car insurance in the UK
There were a number of exits and sales within the market
Lloyds Banking Group is no longer in the market
GMAC Financial Services is looking to sell Provident
HSBC has placed its motor insurance business into run-off
QBE has also exited that market
KGM Motor had a difficult 2009 and it is currently up for sale
Quinn Direct will write considerably less UK business as a result of being in administration
Marker study is looking to shed private motor business from Zenith following its acquisition in late 2009
Market growth will be stunted in 2010 followed by successive increases from 2011 onwards
Rate increases will drive market growth
+ many more
For more information visit http://www.researchandmarkets.com/research/4f9cf0/uk_private_motor_i