United Kingdom Insurance Report - Business Monitor International - Industry Reports

United Kingdom Insurance Report

United Kingdom Insurance Report - Business Monitor International - Industry Reports
United Kingdom Insurance Report
Published Jul 23, 2016
57 pages — Published Jul 23, 2016
Price US$ 1,295.00  |  Buy this Report Now

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Abstract:

BMI View: The UK s vote to leave the European Union (EU) has significant implications for the country s insurance sector and we have revised our short-term forecasts to reflect the economic uncertainty currently facing the insurance segment, with the life sector in particular expect to see a fall in written premium value in ----. Despite the nebulous short-term outlook, prospects for growth are presented by Brexit and the UK s large and well-capitalised firms are in a strong position to progress smoothly through the transition. ...Despite the nebulous short-term outlook, prospects for growth are presented by Brexit and the UK s large and well-capitalised firms are in a strong position to progress smoothly through the transition. Changes will likely be made to the insurance regulatory system as the UK is extricated from EU based directives, creating a period of uncertainty for providers and challenges will also arise for domestic and foreign firms which are headquartered in the UK but which operate in a variety of EU markets. These factors are unlikely to affect the market in the near-term, however, with the UK facing a two-year negotiation period to exit the EU, during which time operating regulations will be clarified. It is unlikely that regulatory changes will result in a major divergence from the current standard based on EU directives, as compatibility will need to be maintained to ensure UK providers remain eligible to offer services in the UK. The UK insurance sector is already tightly regulated and while some providers hope to see more cumbersome EU policies reversed, no such moves are expected to take place within the next two years.

...Many leading insurance providers have made statements in recent weeks to reassure consumers and investors alike in the wake of the EU referendum results. The country s largest non-life insurance provider, Aviva, has released a statement noting the group s solvency ratio remained close to the top of its working range of ------- percent and furthermore promised to increase dividend payouts in ----. Insurers are being affected by stock market volatility and exchange rate fluctuations. Major providers Aviva, Standard Life and M&G (part of Prudential) have all suspended trading in the UK s largest commercial property fund in early July ----, noting the sharp increase in investors withdrawing funds amid concerns relating to the likely trajectory of the commercial property segment. Overall we expect the non-life market to achieve some growth in ----, albeit limited, led primarily by the compulsory motor insurance segment and growing demand for private health insurance which should ...Major providers Aviva, Standard Life and M&G (part of Prudential) have all suspended trading in the UK s largest commercial property fund in early July ----, noting the sharp increase in investors withdrawing funds amid concerns relating to the likely trajectory of the commercial property segment. Overall we expect the non-life market to achieve some growth in ----, albeit limited, led primarily by the compulsory motor insurance segment and growing demand for private health insurance which should

...We have made a downwards revision to our ---- forecasts for both the life and non-life sectors, a reflection of the uncertainty in the domestic economic market and downgrading of GDP growth forecasts. Our mediu- term forecasts remain in positive territory, with premiums in both sectors expected to return to growth in ----. ...

  
Source:
Document ID
1757-1227
Country
Industry
Format:
PDF Adobe Acrobat
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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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MLA:
Business Monitor International - Industry Reports. "United Kingdom Insurance Report" Jul 23, 2016. Alacra Store. Dec 03, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/United-Kingdom-Insurance-Report-2026-689>
  
APA:
Business Monitor International - Industry Reports. (2016). United Kingdom Insurance Report Jul 23, 2016. New York, NY: Alacra Store. Retrieved Dec 03, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/United-Kingdom-Insurance-Report-2026-689>
  
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