IntroductionThis report analyzes the market's performance across key commercial lines, providing insight into competitor strategies and the major issues affecting the market.
Data relating to the evolving dynamics of commercial insurance distribution are also analyzed.
Finally, GWP forecasts are presented for the main sectors of the commercial insurance market.ScopeGWP growth and profitability in the key sectors of the commercial insurance market provides an overview of market performanceAnalysis of competitive dynamics, with profiles of the main competitors' market share changes, performance ratios and strategiesDiscussion of the key issues shaping the market at the moment, based on Datamonitor interviews with industry executivesGWP forecasts for the total commercial market and its three main sectors, based on Datamonitor's forecast model and in-house industry expertiseHighlightsThe impact of the soft cycle on commercial lines is clear, as GWP growth rates in all five sectors slowed down between 2003 and 2004.
As a whole, the commercial general insurance market in the UK shrank by almost 1 per cent as the industry descended into the soft cycle phase.The general insurance market's underwriting profit increased substantially in 2004, largely due to the beneficial effects of benign weather conditions on the overall claims bill.In 2004 the commercial market consolidated, as the top 10 and middle tier commercial insurers increased their market share at the expense of the remaining smaller players.
The increasing consolidation of the commercial insurance market means that the more established players have greater control over price.Reasons to PurchaseBenchmark your company's performance against your competitorsDevelop your future business plans from an informed viewpoint with Datamonitor's GWP forecastsUnderstand the key issues shaping the commercial market and its main sectors