Industry Analysis & Industry Trends
General insurance providers offer products including motor insurance, property and content insurance, general liability insurance, accident insurance and health insurance. The industry generates revenue by charging its customers premiums and investing this income. Over the past decade, the share of total revenue that is generated through investments has fluctuated greatly. IBISWorld expects investment conditions to be volatile over 2016-17, as a result of financial market turbulence due to uncertainty created by the UK's decision to leave the European Union.
Operating conditions at the beginning of the five-year period through 2016-17 were difficult for the industry. The poor performance of the UK economy following the financial crisis resulted in weak demand for insurance... purchase to read more
Industry Report - Industry Analysis Chapter
Weak economic conditions in the United Kingdom resulted in sluggish demand for insurance at the start of the five-year period through 2016-17. Weak or negative investment returns during the first two years of the period further exacerbated the problems faced by industry participants. However, improving investment conditions are expected to benefit general insurers over the latter half of the period. As a result, industry revenue is forecast to increase at a compound annual rate of 5% over the five years through 2016-17.
The industry recorded strong growth in 2015-16 and this trend is expected to continue in the current year. This growth is partly attributable to slowly increasing demand for general insurance. Str.. purchase to read more