DUBLIN–(BUSINESS WIRE)–The “UK Insurance Market Essentials – H2 2023 Update” report has been added to ResearchAndMarkets.com’s offering.
This report gives a brief overview of both personal and commercial lines in the UK general insurance market. In the personal lines, this includes private motor, household, travel, and pet. In the commercial lines, this includes commercial motor, commercial property, and employers’ liability.
The report presents some underlying drivers of gross written premiums (GWP) in these markets, as well as areas for future growth. The report goes on to discuss product distribution within both segments of the market.
The total UK general insurance market increased by 8.2% in 2022 and is expected to have grown by 12.9% in 2023. The report forecasts that over 80% of commercial insurance premiums were written by brokers in 2023, albeit at a slightly lower share than 2022. Meanwhile, a slight recovery is anticipated for the direct channel in 2023 for commercial lines.
Scope
- The total personal insurance market increased by 10.1% in 2022 and is expected to have grown by 13.3% in 2023, reaching a value of GBP36.17 billion.
- The total commercial lines market experienced a 6.3% growth in GWP in 2022 and is expected to have risen by 12.5% in 2023, reaching a value of GBP37.51 billion.
- The direct channel is expected to increase its share of distribution in personal lines to 51.5% in 2023. Meanwhile, the publisher expects that the bank channel will lose some of its share in 2023.
Reasons to Buy
- Understand how certain core markets in the UK general insurance market performed in 2022 and are expected to perform in 2023.
- Ascertain how underlying factors and drivers in these markets will shape them going forward.
- Explore the market shares in the distribution of both commercial and personal lines from 2018-23e.
Key Topics Covered:
- Executive Summary
- Total General Insurance
- Personal Insurance
- Commercial Insurance
- Distribution
- Appendix
For more information about this report visit https://www.researchandmarkets.com/r/fjayod
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