Industry Analysis & Industry Trends
The UK General Insurance industry constitutes the world's most specialised risk policy underwriters. Lloyd's of London has a prominent place in insurance operations in the London market, as well as a significant presence internationally. In 2012-13, general insurance lines in the United Kingdom will generate total revenue of £43 billion, an increase of 5.7% on 2011-12. This consists of £40.1 billion in premium revenue and £2.9 billion in investment income.
The industry was in a less than ideal position when world markets collapsed in 2008. Premium prices (and, consequently, premium income) were low as a result of high investment returns, and claims were higher than the historical average... purchase to read more
Industry Report - Industry Products Chapter
The industry's product segmentation is based on net premiums earned and does not include net investment income. General premium income will account for 93.2% of total industry revenue this year.
The largest share of general insurance premiums is generated from motor vehicle insurance, which includes both private passenger and commercial coverage. This type of insurance covers the insured for any loss incurred through damage to property or persons as the result of a car accident (including theft). The private passenger segment is by far the larger of the two segments given the ever-increasing size and replacement value of the private automotive fleet. The top five insurance providers account for almost two-thirds of the private car insurance market... purchase to read more