Competition In UK Household Insurance Report Examines The Major Competitive Developments That Took Place Over 2006 And 2007.DUBLIN, Ireland -- Research and Markets (http://www.researchandmarkets.com/reports/c86425) has announced the addition of "Competition in UK Household Insurance 2007" to their offering. This report examines the major competitive developments that took place over 2006 and 2007 in the household insurance market. It analyzes market share and the growth of the top 10 household insurers, and considers the factors that have influenced their relative positions in the market. The loss, expense and combined ratios of the top 10 property insurers are also presented and analyzed an·a·lyze tr.v. an·a·lyzed, an·a·lyz·ing, an·a·lyz·es 1. To examine methodically by separating into parts and studying their interrelations. 2. Chemistry To make a chemical analysis of. 3. . Scope - Loss, Expense and combined ratios of the top 10 household insurers in the UK - Information on recent competitor developments Highlights of this title In 2006, Norwich Union Norwich Union is an insurance company in the UK. It is the biggest life-insurer in the UK, and has a strong position in motor insurance. It is part of the Aviva group, itself created by a merger of Norwich Union and CGU plc in 2000. was the largest player in the household market recording GWP GWP Global Warming Potential GWP Global Water Partnership GWP Gift With Purchase GWP Guinea-Bissau Peso (currency code: now GNF) GWP German Wirehaired Pointer (dog breed) GWP Gross World Product in excess of PS1.4 billion. In addition, Norwich Union experienced strong growth in the book which grew by 12.8% from PS1.3 billion GWP in 2005. Key reasons to purchase this title - Provides an insight into recent competitor developments - Benchmark yourself against your competitors in terms of market share and performance ratios Contents: OUR VIEW CATALYST SUMMARY ANALYSIS St Andrews Coordinates: St Andrews (Scottish Gaelic: Cill Rìmhinn) is a city and former royal burgh on the east coast of Fife, Scotland. It is named after Saint Andrew the Apostle. , AXA AXA Anguilla, Anguilla (Airport Code) AXA Alpha Chi Alpha AXA Animal Crossing Ahead (online forum community/guide to the game Animal Crossing) AXA Auxiliary Artery , Norwich Union and UKI UKI United Kingdom & Ireland all recorded strong household GWP growth in 2006 Norwich Union remained the leading home insurer in 2006 and recorded strong growth in premium income St Andrews household book saw significant growth in 2006 Royal & SunAlliance saw household insurance GWP decrease in 2006, however on the flipside it recorded a strong combined ratio Churchill moved from third to fourth position in the household market in 2006 Lloyds TSBs Lloyds TSB Group plc (LSE: LLOY) is a banking and insurance group in the United Kingdom. It was formed in 1995 by the merger of Lloyds Bank and the Trustee Savings Bank (TSB). The Group's head office is at 25 Gresham Street, London. home insurance book grew marginally benefiting from increased sales through the branch network Zurich saw a decline in premium income in 2006 Direct Line household insurance premium income fell marginally in 2006 AXA experienced significant growth in its GWP in 2006 and moved into seventh place in the household market Legal & General saw a slowdown For articles with similar titles, see Slow Down (disambiguation). A slowdown is an industrial action in which employees perform their duties but seek to reduce productivity or efficiency in their performance of these duties. in premium income growth in 2006 UK Insurances premium income experienced strong growth in 2006 St Andrews experienced strong growth in GWP during 2006 while Royal & SunAlliance saw its GWP fall in 2006 The average loss ratio of the top 10 property insurers increased by 0.1 percentage points in 2006, with Direct Line, Zurich and Norwich Union recording the biggest reductions The average loss ratio of the top 10 property insurers increased by 0.1 percentage points Norwich Union, Direct Line and Zurich recorded strong loss ratio reductions St Andrews, NIG NIG National Institute of Genetics NIG National Insurance Guarantee Corporation Ltd. (UK insurance company) NIG Navy Inspector General NIG New in Germany NIG not in goal (soccer) and Royal & SunAlliance recorded high loss ratio increases The average expense ratio of the top 10 property insurers increased in 2006, with Norwich Union and AXA recording the largest individual increases The average expense ratio of the top 10 property insurers rose by 1.4 percentage points in 2006 Norwich Union, AXA and Lloyds TSB saw their expense ratios increase, but they achieved GWP growth Four of the top 10 property insurers achieved expense ratio reductions The average combined ratio of the top 10 property insurers rose in 2006, with Norwich Union, AXA and NIG seeing the largest increases Among the top 10 UK property insurers, the average combined ratio rose by 1.5 percentage points in 2006 Norwich Union, AXA and NIG recorded high combined ratio growth Three insurers were able to defy de·fy tr.v. de·fied, de·fy·ing, de·fies 1. a. To oppose or resist with boldness and assurance: defied the blockade by sailing straight through it. b. the property market trend and reduce their combined ratios APPENDIX Definitions Competitor data Household and domestic all risks Premium income measures Earned premiums Earned premium is the portion of an insurance written premium which is considered "earned" by the insurer, based on the part of the policy period that the insurance has been in effect, and during which the insurer has been exposed to loss. Gross Premium Net Premium Written premiums Further reading Ask the analyst Our consulting Disclaimer (networking) disclaimer - Statement ritually appended to many Usenet postings (sometimes automatically, by the posting software) reiterating the fact (which should be obvious, but is easily forgotten) that the article reflects its author's opinions and not necessarily those of the List of Tables List of Figures For more information visit http://www.researchandmarkets.com/reports/c86425 Source: Datamonitor |
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