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General Insurance in the UK: Market Research Report

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

General Insurance Market Research Report | SIC K65.120 | Sep 2016

Assured of growth: Continued demand and improved investment conditions have supported growth

IBISWorld’s General Insurance market research report can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

Report Snapshot
Market Share of Companies
Aviva plc Aviva plc market share
AXA Insurance AXA Insurance market share
Direct Line Group Ltd Direct Line Group Ltd market share
RSA Insurance Group RSA Insurance Group market share
Industry Statistics & Market Size
Revenue
£56bn
Annual Growth 12-17
5.0%
Annual Growth 17-22
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Profit
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Employment
108,365
Businesses
502
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

 


Industry ProductsRelated ReportsTable of Contents

What is the General Insurance Industry?

Businesses in this industry underwrite insurance policies relating to property, casualty, liability and other general risks. The premiums they earn from this are then invested to generate additional income. Underwriting life and disability is a separate industry, although many businesses compete in both insurance markets.

Industry Products
Motor insuranceGeneral liability insuranceLegal insuranceProperty insuranceMarine, aviation and transport insuranceAccident and health insurance
 
Industry Activities
Providing motor vehicle insurance, including compulsory third-party insuranceProviding householder insuranceProviding fire and industrial special risk insuranceProviding travel insuranceProviding mortgage and consumer credit insuranceProviding employers' liability insuranceProviding professional indemnity insuranceProviding public and product liability insurance


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