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TMCNet:  UK Commercial Motor Insurance Market Dynamics & Opportunities 2017 - Research and Markets

[September 13, 2017]

UK Commercial Motor Insurance Market Dynamics & Opportunities 2017 - Research and Markets

The "UK Commercial Motor Insurance: Market Dynamics & Opportunities 2017" report has been added to Research and Markets' offering.

"UK Commercial Motor Insurance: Market Dynamics & Opportunities 2017", analyzes the UK commercial motor insurance market, looking at market size as well as changes in premiums, claims, road casualties, the motor parc, regulations, and opportunities. It discusses competitors in the market, how the market is likely to change due to telematics and driverless cars, and provides future forecasts of market size up to 2021.

Commercial motor insurance market in UK grew slightly in 2016. This was a result of economic growth, which in turn increased business prosperity and therefore the investment in commercial vehicles to support business exansion. Despite growth in commercial motor, the market is heading towards unprofitable territory as it is expected that rates will begin to harden over the next few years, until further government reforms are introduced that might lower claims costs.

Key findings include in this report:

  • Gross written premiums (GWP) for the commercial motor insurance market grew by 4.5% to 4.17bn in 2016.
  • The claims environment, alongside personal motor insurance, remains in a state of uncertainty around the impact of the discount rate reduction to -0.75% and whiplash claim reforms.
  • There are concerns among industry experts around longer-term market profitability and the availability of reserves to bolster combined operating ratios (CORs), particularly if the predicted negative impacts of leaving the EU come to fruition.

Companies Mentioned

  • RSA (News - Alert)
  • Aviva
  • Allianz
  • NFU Mutual
  • AXA
  • Zurich
  • QBE
  • LV=
  • Direct Line
  • Ageas

For more information about this report visit https://www.researchandmarkets.com/research/kqn4ht/uk_commercial


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