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Agricultural Insurance in the UK: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Agricultural Insurance Market Research Report | SIC K65.124 | Aug 2016

Furrowed brows: Unpredictable extreme weather has caused some volatility, despite growth

IBISWorld’s Agricultural Insurance market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

Report Snapshot
Market Share of Companies
National Farmers Union Mutual Insurance National Farmers Union Mutual Insurance market share
Industry Statistics & Market Size
Revenue
£1bn
Annual Growth 12-17
2.5%
Annual Growth 17-22
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Profit
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Employment
3,788
Businesses
226
Industry Analysis & Industry Trends

Despite growth over the past five years, revenue generated by the Agricultural Insurance industry remains below pre-recession levels. Over the past five years, insurers have had to cope not only with severe flooding but also with a difficult investment environment. Industry revenue is expected to increase at a compound annual rate of 2.5% over the five years through 2016-17. However, this is partly due to weak revenue performance in the base year. In 2016-17 IBISWorld expects the economic environment to deteriorate slightly, but industry revenue is still forecast to increase by 0.2% to reach just under £1.3 billion... purchase to read more

Industry Report - Industry Products Chapter

The areas of agricultural and farm insurance cover a wide variety of risks and potential liabilities. Product segments are given as a percentage of gross premiums written.

Farm combined insurance

Farm combined insurance policies tend to cover a broad range of items. Coverage is often tailored to customer needs and may include buildings, machinery, livestock, personal accident, illness, and house and contents insurance in one policy. Some policies also include hailstorm insurance for crops. The majority of insurance policies written by the Agricultural Insurance industry are in this form of combined farm insurance. The recent spate of dramatic weather changes means that farmers have become more wary of the potential harm caused by natural disasters. For.. purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Agricultural Insurance Industry?

Firms in this industry provide agricultural insurance, also known as farm or crop insurance. Agricultural insurance is purchased by agricultural producers to protect against either the loss of their crops due to natural disasters, such as hail, drought and floods, or the loss of revenue due to related farm-specific risks.

Industry Products
Farm motor insuranceLivestock insuranceFarm combined insuranceOther liabilities
 
Industry Activities
Provision of natural disaster insuranceProvision of crop growing insuranceProvision of livestock insuranceProvision of machinery and equipment insuranceOther farm liability insurance


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