Get access to Axco’s online product with the latest market intelligence for the market of your choice
Axco's insurance market report provides expert analysis, market insight, company performance data and market statistics for the UK's non-life (property and casualty) market. The detailed report is produced following a visit to the country and interviews with industry professionals working in the UK's insurance sector. Systematic updates are published throughout the cycle, to the latest developments in the UK non-life (P&C) market as well as trends by line of business. Axco analysts also report on the UK's economic factors, the local political situation, and sections on climate, operational, and security risks. The report is suitable for insurers, reinsurance companies, brokers and insurance buyers.
The report describes the UK's insurance regulations and requirements, including vital compliance requirements such as if non admitted insurance is permitted in the UK, what are the local rules on licensing and detailing any relevant taxes and charges for the insurer and the insured.
View detailed analysis of local lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers' liability and liability. The report lists the insurance companies operating in the UK, their market share and investigates how much premium is written through the sector’s different distribution channels.
Statistics include five years of non-life (P&C) market performance indicators, including gross written premiums, premium growth, penetration, profitability ratios, and premium by line of business. Company statistics show who are the leading non-life insurance companies in the United Kingdom with local company premiums, market share and year on year growth, expense ratios and retentions by line of business.
There are few barriers to entering the UK insurance market and there is complete freedom to set rates. These factors continue to make the market attractive to foreign insurers, which now make up a very important part of the domestic market.
A unique feature of the UK insurance environment is the London market, the world's leading international insurance centre. This is concentrated in the City of London and comprises Lloyd's, non-Lloyd's underwriting agencies and the branches and subsidiaries of UK and international insurance and reinsurance companies. The London market specialises in inwards reinsurance, marine and aviation business, US surplus lines and international direct risks of a large or complex nature (known as home foreign business). It is the subject of a separate Axco report ....
This is a brief extract of information; more updated information may be available in the latest published report.