Tuesday, 15 November 2016

UK Commercial Property Insurance Market Growth, Overview and Report

The commercial property insurance sector has endured low premium rates for several years and 2015 has been no different.

As a result, the value of the market has experienced little change and gross written premiums (GWP) are forecast to grow at a slow and steady rate.

Commercial property insurance is very much a self-serving market, with progress only achieved if it creates opportunities for itself, i.e. more properties to insure.

Currently, the construction industry continues on an upward trend, increasing output volumes, which suggests confidence has returned to the sector, although the number of new orders has declined from last year, meaning it remains to be seen if the current buoyancy of the market will be short-lived.

The prospect of strong underwriting returns has encouraged more competitors to enter the marketplace, which in turn has driven down premium rates to stubbornly low levels, and a relatively benign claims environment indicates a rate rise may be a long way off.

Although this is encouraging for insurers, the cost of claims has risen, meaning incidents of peril are becoming even costlier for providers to compensate.

Coupled with this are the effects of the severe weather at the beginning of 2016, which is likely to impact the market in the immediate year going forward.

The UK's decision to exit the EU will also undoubtedly affect foreign investment in commercial property and the business prospects of UK-based insurers. The commercial property space has demonstrated signs of both optimism and unpredictability.

Key Findings:
  • The commercial property market amounted to just over £5bn of GWP in 2015.
  • Lloyd's of London wrote £568m of commercial property insurance GWP in 2015.
  • Gross claims paid in 2015 amounted to £3.2bn.
  • The market is forecast to grow steadily, reaching GWP of £5.4bn by 2018.

Synopsis:


Verdict Financial's “UK Commercial Property Insurance: Market Dynamics and Opportunities” report provides an in-depth analysis of the UK commercial property insurance market. The points discussed include the size of the market, performance ratios, and changes in premiums, claims, incidents of peril, regulations, and opportunities. The report provides a thorough overview of the market along with future forecasts.

Sample request:
http://www.radiantinsights.com/research/uk-commercial-property-insurance/request-sample

Reasons To Buy:
  • Benchmark yourself against the rest of the market.Ensure you remain competitive as new innovations and significant market developments occur.
  • Be prepared for how the commercial property sector could be affected following the UK's decision to leave the EU.

Key Highlights:
  • Benchmark yourself against the rest of the market.Ensure you remain competitive as new innovations and significant market developments occur.
  • Be prepared for how the commercial property sector could be affected following the UK's decision to leave the EU.

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