Professional Indemnity and D&O Insurance in the UK-Key Trends and Opportunities to 2020
January 2017
72
About the Report
About the Report
Timetric's 'Professional Indemnity and D&O Insurance in the UK-Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into UK professional indemnity and D&O insurance, including:
The UK's professional indemnity and D&O insurance business growth prospects by segment and category
A comprehensive overview of the growth drivers
The detailed competitive landscape of the UK professional indemnity and D&O insurance market
The various distribution channels in the UK professional indemnity and D&O insurance market
Details of regulatory policy applicable to the UK professional indemnity and D&O insurance market
Summary
Timetric's 'Professional Indemnity and D&O Insurance in the UK-Key Trends and Opportunities to 2020' report provides detailed analysis of the market trends, drivers and challenges in the UK professional indemnity and D&O insurance business.
It provides key performance indicators such as written premium, penetration, density and claims during the review period (2011-2015).
The report also analyzes distribution channels operating in the market, gives a comprehensive overview of market drivers, and provides detailed information on the competitive landscape.
The report brings together Timetric's research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.
Scope
This report provides a comprehensive analysis of the professional indemnity and D&O insurance business in the UK:
It provides historical values for the UK's professional indemnity and D&O insurance for the report's 2011-2015 (review period).
It offers a detailed analysis of the key segments in the UK's professional indemnity and D&O insurance business, with market forecasts to 2020.
It covers parameters, including written premium, claims, penetration and density.
It analyzes the various distribution channels in the UK's professional indemnity and D&O insurance business.
It profiles the top insurance companies in UK professional indemnity and D&O insurance, and outlines the key regulations affecting them.
Reasons To Buy
Make strategic business decisions using in-depth historic data and forecast trends related to the UK professional indemnity and D&O insurance business.
Gain an understanding of UK professional indemnity insurance business.
Learn about the performance of market drivers, distribution channels and market dynamics.
Explore key competitors in the category, and their performances.
Understand the demand-side dynamics, key market trends and growth opportunities in the UK professional indemnity and D&O insurance business.
Assess the competitive dynamics of the UK professional indemnity and D&O insurance business.
Gain insights into key regulations governing the UK professional indemnity and D&O insurance business.
Key Highlights
The professional indemnity insurance gross written premium grew at a review-period CAGR of 4.5%.
A large number of compulsory classes of professional indemnity insurance offer insurers a potential growth market, and are expected to drive growth over the forecast period.
The UK professional indemnity insurance category is consolidated, with the five leading insurers accounting for 54.4% of the gross written premium in 2015.
The increase in the number of registered companies offers a large potential client base.
Uncertainty surrounding Brexit will encourage professionals to take out indemnity insurance against legal and business risk arising during the transition process.
Products
Products
Professional Indemnity , D&O Insurance, Gross written premium, PRA, FCA, Market, Aggregators, Price-comparison websites, Density, Penetration, Broker, Intermediaries, Policy, Liability insurance, Company performance, Market driver, Turnover, Employment, Bancassurance,
Companies
AIG, Hiscox , QBE , Royal & Sun Alliance, HCC , CNA, Zurich, Travelers, Markel, XL,
Table of Contents
Table of Contents
1 Executive Summary
2 Introduction
2.1 What is this Report About?
2.2 Definitions
2.3 Methodology
3 Market Analysis
3.1 Market Size
3.1.1 Penetration and density
3.2 Market Drivers
3.2.1 Large number of compulsory insurance classes
3.2.2 Growth in number of registered companies, particularly service provider companies
3.2.3 Increasing number of individual service professionals
3.2.4 Increase in the number of higher/additional taxpayers
3.2.5 Uncertainty related to Brexit is encouraging professionals to take out indemnity cover
3.3 Market Outlook
4 Competitive Landscape
4.1 Market Participants
4.2 Market Shares and Performance at a Company Level
4.3 Professional Indemnity Insurance-SWOT Analysis
4.4 Investment Returns
5 News and Deals
5.1 AIG introduces indemnity policy to cover Brexit risks
5.2 Tokio Marine HCC commences its operations in Manchester
5.3 Hiscox introduces new e-trading solution for commercial brokers
5.4 Axa allies with Mapledown on Construction Professional Indemnity Risks
5.5 PI Protect Launches Insurance Products for Workplace Environments
5.6 Allianz Launches E-Traded Professional Indemnity Product
6 Regulation and Compliance
6.1 Regulatory Framework
6.2 Recent Regulatory Changes
6.2.1 Referendum to leave the EU
6.2.2 The Insurance Act 2015
6.2.3 Enterprise Act 2016
6.2.4 The Consumer Rights Act 2015
6.2.5 Implementation of Solvency II regime
6.2.6 Changes to the insurance distribution regulations-Insurance Distribution Directive
6.2.7 Consumer Insurance (Disclosure and Representations) Act
6.2.8 Consumer Insurance (Disclosure and Representations) Act
6.2.9 Health Care and Associated Professions (Indemnity Arrangements) Order 2013
6.2.10 The Legal Aid, Sentencing and Punishment of Offenders Act (LASPO)
6.2.11 The Ministry of Justice (MoJ) online portal extension
7 Economic Backdrop
7.1 Real GDP growth
7.2 Demographics
7.3 Labor Market and Professional Indemnity Spending Power
7.4 Lending to Business
7.5 Inflation and Interest Rates
8 Company Profiles
8.1 AIG Europe Ltd-Company Overview
8.1.1 AIG Europe Ltd-key facts
8.1.2 AIG Europe Ltd-main products
8.1.3 AIG Europe Ltd-main competitors
8.1.4 AIG Europe Ltd-key employees
8.2 Hiscox Ltd-Company Overview
8.2.1 Hiscox Ltd-key facts
8.2.2 Hiscox Ltd-main products
8.2.3 Hiscox Ltd-main competitors
8.2.4 Hiscox Ltd-key employees
8.3 QBE Insurance (Europe) Ltd-Company Overview
8.3.1 QBE Insurance (Europe) Ltd-key facts
8.3.2 QBE Insurance (Europe) Ltd-main products
8.3.3 QBE Insurance (Europe) Ltd-main competitors
8.3.4 QBE Insurance (Europe) Ltd-key employees
8.4 Royal & Sun Alliance Insurance Plc-Company Overview
8.4.1 Royal & Sun Alliance Insurance Plc-key facts
8.4.2 Royal & Sun Alliance Insurance Plc-main products
8.4.3 Royal & Sun Alliance Insurance Plc-main competitors
8.4.4 Royal & Sun Alliance Insurance Plc-key employees
8.5 HCC International Insurance Company Plc-Company Overview
8.5.1 HCC International Insurance Company Plc-key facts
8.5.2 HCC International Insurance Company Plc-main products
8.5.3 HCC International Insurance Company Plc-main competitors
8.5.4 HCC International Insurance Company Plc-key employees
8.6 CNA Insurance Company Ltd-Company Overview
8.6.1 CNA Insurance Company Ltd-key facts
8.6.2 CNA Insurance Company Ltd-main products
8.6.3 CNA Insurance Company Ltd-main competitors
8.6.4 CNA Insurance Company Ltd-key employees
8.7 Zurich Insurance Plc-Company Overview
8.7.1 Zurich Insurance Plc-key facts
8.7.2 Zurich Insurance Plc-main products
8.7.3 Zurich Insurance Plc-main competitors
8.7.4 Zurich Insurance Plc-key employees
8.8 Travelers Insurance Company Ltd-Company Overview
8.8.1 Travelers Insurance Company Ltd-key facts
8.8.2 Travelers Insurance Company Ltd-main products
8.8.3 Travelers Insurance Company Ltd-main competitors
8.8.4 Travelers Insurance Company Ltd-key employees
8.9 Markel International-Company Overview
8.9.1 Markel International Limited-key facts
8.9.2 Markel International Limited-main products
8.9.3 Markel International Limited-main competitors
8.9.4 Markel International Limited-key employees
8.1 XL Insurance Company SE-Company Overview
8.10.1 XL Insurance Company SE-key facts
8.10.2 XL Insurance Company SE-main products
8.10.3 XL Insurance Company SE-main competitors
8.10.4 XL Insurance Company SE-key employees
9 Statistics
9.1 Review Period 2011-2015
9.2 Forecast Period 2016-2020
10 Appendix
10.1 Methodology
10.2 Contact Timetric
10.3 About Timetric
10.4 Timetric's Services
10.5 Disclaimer
List of Figure
Figure 1: The UK-Professional Indemnity Insurance-Gross Written Premium, 2011-2015
Figure 2: The UK-Commercial Liability Insurance Premiums and PI Share, 2010-2015
Figure 3: The UK-Professional Indemnity Insurance-Penetration and Density, 201-2015s
Figure 4: The UK-Incorporated Companies on Register, FY2010-2015
Figure 5: The UK-Incorporated Companies on Register, by Region, FY2010-2015
Figure 6: The UK-Incorporated Companies on Register, by Type, FY2010-2015
Figure 7: The UK-Number of Registered Professionals, 2008-2015
Figure 8: The UK-Number of Taxpayers, by Tax Rate, FY2010-2017
Figure 9: The UK-Maximum Rate Taxpayers, by Region, FY2010-2016
Figure 10: The UK-Business Confidence Monitor, 2009-2016
Figure 11: The UK-Professional Indemnity-Gross Written Premium Forecast, 2016-2020
Figure 12: The UK-High Court Claims for Professional Negligence, 2008-2013
Figure 13: The UK-Market Shares (Gross Written Premium) of the 10 Largest PI Insurers, 2015
Figure 14: The UK-Market Shares in Prof. Indemnity Insurance by Company Size, 2012-2014
Figure 15: The UK-Prof. Indemnity Premium to Non-Life Premium, Top Companies 2010-2014
Figure 16: The UK-Insurance Regulatory Framework
Figure 17: The UK-Real GDP Growth, 2009-2018
Figure 18: The UK-Demographics, 2000-2020
Figure 19: The UK-Labor Market, 2003-2015
Figure 20: The UK-Average Weekly Earnings, 2006-2015
Figure 21: The UK-Financial Institutions' Net Lending, 2011-2015
Figure 22: The UK-Percentage of Total Number of Companies, by Type, 2011-2015
Figure 23: The UK-Consumer Price Index Headline, 2004-2014
Figure 24: The UK-Bank of England Interest Rate, 2003-2014
List of Table
Table 1: Turkish Construction Output by Project Type (TRY Million), 2011-2015
Table 2: Turkish Construction Output by Project Type (TRY Million), 2015-2020
Table 3: Turkish Construction Output by Cost Type (TRY Million), 2011-2015
Table 4: Turkish Construction Output by Cost Type (TRY Million), 2015-2020
Table 5: Turkish Construction Output by Activity (TRY Million), 2011-2015
Table 6: Turkish Construction Output by Activity Type (TRY Million), 2015-2020
Table 7: Turkish Construction Value Add by Project Type (TRY Million), 2011-2015
Table 8: Turkish Construction Value Add by Project Type (TRY Million), 2015-2020
Table 9: Turkish Commercial Construction Output by Project Type (TRY Million), 2011-2015
Table 10: Turkish Commercial Construction Output by Project Type (TRY Million), 2015-2020
Table 11: Turkish Commercial Construction Output by Cost Type (TRY Million), 2011-2015
Table 12: Turkish Commercial Construction Output by Cost Type (TRY Million), 2015-2020
Table 13: Turkish Commercial Construction Output by Activity (TRY Million), 2011-2015
Table 14: Turkish Commercial Construction Output by Activity Type (TRY Million), 2015-2020
Table 15: Turkish Commercial Construction Value Add by Project Type (TRY Million), 2011-2015
Table 16: Turkish Commercial Construction Value Add by Project Type (TRY Million), 2015-2020
Table 17: Turkish Industrial Construction Output by Project Type (TRY Million), 2011-2015
Table 18: Turkish Industrial Construction Output by Project Type (TRY Million), 2015-2020
Table 19: Turkish Industrial Construction Output by Cost Type (TRY Million), 2011-2015
Table 20: Turkish Industrial Construction Output by Cost Type (TRY Million), 2015-2020
Table 21: Turkish Industrial Construction Output by Activity (TRY Million), 2011-2015
Table 22: Turkish Industrial Construction Output by Activity Type (TRY Million), 2015-2020
Table 23: Turkish Industrial Construction Value Add by Project Type (TRY Million), 2011-2015
Table 24: Turkish Industrial Construction Value Add by Project Type (TRY Million), 2015-2020
Table 25: Turkish Infrastructure Construction Output by Project Type (TRY Million), 2011-2015
Table 26: Turkish Infrastructure Construction Output by Project Type (TRY Million), 2015-2020
Table 27: Turkish Infrastructure Construction Output by Cost Type (TRY Million), 2011-2015
Table 28: Turkish Infrastructure Construction Output by Cost Type (TRY Million), 2015-2020
Table 29: Turkish Infrastructure Construction Output by Activity (TRY Million), 2011-2015
Table 30: Turkish Infrastructure Construction Output by Activity Type (TRY Million), 2015-2020
Table 31: Turkish Infrastructure Construction Value Add by Project Type (TRY Million), 2011-2015
Table 32: Turkish Infrastructure Construction Value Add by Project Type (TRY Million), 2015-2020
Table 33: Turkish Energy and utilities Construction Output by Project Type (TRY Million), 2011-2015
Table 34: Turkish Energy and utilities Construction Output by Project Type (TRY Million), 2015-2020
Table 35: Turkish Energy and utilities Construction Output by Cost Type (TRY Million), 2011-2015
Table 36: Turkish Energy and utilities Construction Output by Cost Type (TRY Million), 2015-2020
Table 37: Turkish Energy and utilities Construction Output by Activity (TRY Million), 2011-2015
Table 38: Turkish Energy and utilities Construction Output by Activity Type (TRY Million), 2015-2020
Table 39: Turkish Energy and utilities Construction Value Add by Project Type (TRY Million), 2011-2015
Table 40: Turkish Energy and utilities Construction Value Add by Project Type (TRY Million), 2015-2020
Table 41: Turkish Institutional Construction Output by Project Type (TRY Million), 2011-2015
Table 42: Turkish Institutional Construction Output by Project Type (TRY Million), 2015-2020
Table 43: Turkish Institutional Construction Output by Cost Type (TRY Million), 2011-2015
Table 44: Turkish Institutional Construction Output by Cost Type (TRY Million), 2015-2020
Table 45: Turkish Institutional Construction Output by Activity (TRY Million), 2011-2015
Table 46: Turkish Institutional Construction Output by Activity Type (TRY Million), 2015-2020
Table 47: Turkish Institutional Construction Value Add by Project Type (TRY Million), 2011-2015
Table 48: Turkish Institutional Construction Value Add by Project Type (TRY Million), 2015-2020
Table 49: Turkish Residential Construction Output by Project Type (TRY Million), 2011-2015
Table 50: Turkish Residential Construction Output by Project Type (TRY Million), 2015-2020
Table 51: Turkish Residential Construction Output by Cost Type (TRY Million), 2011-2015
Table 52: Turkish Residential Construction Output by Cost Type (TRY Million), 2015-2020
Table 53: Turkish Residential Construction Output by Activity (TRY Million), 2011-2015
Table 54: Turkish Residential Construction Output by Activity Type (TRY Million), 2015-2020
Table 55: Turkish Residential Construction Value Add by Project Type (TRY Million), 2011-2015
Table 56: Turkish Residential Construction Value Add by Project Type (TRY Million), 2015-2020
Table 57: ENKA Insaat ve Sanayi AS, Key Facts
Table 58: ENKA Insaat ve Sanayi AS, Main Products and Services
Table 59: ENKA Insaat ve Sanayi AS, History
Table 60: ENKA Insaat ve Sanayi AS, Key Employees
Table 61: GAMA Holding AS, Key Facts
Table 62: GAMA Holding AS, Main Services
Table 63: GAMA Holding AS, History
Table 64: GAMA Holding AS, Key Employees
Table 65: Tekfen Holding Co., Inc., Key Facts
Table 66: Tekfen Holding Co., Inc., Main Products and Services
Table 67: Tekfen Holding Co., Inc., History
Table 68: Tekfen Holding Co., Inc., Key Employees
Table 69: Kolin Insaat Turizm Sanayi ve Ticaret AS, Key Facts
Table 70: Kolin Insaat Turizm Sanayi ve Ticaret AS, Main Services
Table 71: Kolin Insaat Turizm Sanayi ve Ticaret AS, History
Table 72: Kolin Insaat Turizm Sanayi ve Ticaret AS, Key Employees
Table 73: Yapi Merkezi Holding Inc., Key Facts
Table 74: Yapi Merkezi Holding Inc., Main Products and Services
Table 75: Yapi Merkezi Holding Inc., History
Table 76: Yapi Merkezi Holding Inc., Key Employees
Table 77: Timetric Construction Market Definitions
Why Buy From US?
What makes us stand out is that our consultants follows Robust, Refine and Result (RRR) methodology. i.e. Robust for clear definitions, approaches and sanity checking, Refine for differentiating respondents facts and opinions and Result for presenting data with story
We have set a benchmark in the industry by offering our clients with syndicated and customized market research reports featuring coverage of entire market as well as meticulous research and analyst insights.
While we don't replace traditional research, we flip the method upside down. Our dual approach of Top Bottom & Bottom Top ensures quality deliverable by not just verifying company fundamentals but also looking at the sector and macroeconomic factors.
With one step in the future, our research team constantly tries to show you the bigger picture. We help with some of the tough questions you may encounter along the way: How is the industry positioned? Best marketing channel? KPI's of competitors? By aligning every element, we help maximize success.
Our report gives you instant access to the answers and sources that other companies might choose to hide. We elaborate each steps of research methodology we have used and showcase you the sample size to earn your trust.
If you need any support, we are here! We pride ourselves on universe strength, data quality, and quick, friendly, and professional service.