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UK Directors' and Officers' insurance 2007 (Datamonitor)
- Market: Finance and Banking
- Published Date: 23/05/2007
- Report Title: UK Directors' and Officers' insurance 2007
- Table of Contents: View Table of Contents
- Report Type: Market Report
- Country: UK
- Number of Pages: 38
Introduction
Provides a detailed discussion of the state of the UK directors' and officers' insurance market in 2006. Includes estimates for market size and the market share of the main competitors,, and forecasts the growth of the market up to 2011.
Scope
Estimates of the size of the directors' and officers' market, and growth rates between 2002 and 2006. A discussion of the competitive situation in the market, and estimated market shares for the largest competitors. A GWP growth forecast up to 2011, based on in-house expertise and interviews with senior industry executives.
Highlights
It is estimated that the directors' and officers' insurance market in the UK was worth approximately £450 million in 2006 in gross written premiums (GWP). This suggests that the market remained largely static in 2006. This stagnation in growth was due to high levels of competition, which led to falling premium rates. Directors' and officers' insurance offers complex cover which is hard to standardize. Cover and pricing therefore needs to be reviewed on a case by case basis, making it useful for the insurer to sell through intermediaries, so that the broker can provide information on the case, allowing the insurer to price the risk and provide a bespoke service. Interviews with leading directors' and officers' insurance providers and brokers indicated that AIG, ACE and Chubb continued to dominate the market in 2006. Interview respondents listed AIG as the leading player in the market, followed by ACE and Chubb in second and third.
Reasons to Purchase
Gain insight into the growth of the market between 2002 and 2006 Understand the current competitive environment of the UK directors' and officers' insurance market Develop your business strategy using unique sector forecast
Provides a detailed discussion of the state of the UK directors' and officers' insurance market in 2006. Includes estimates for market size and the market share of the main competitors,, and forecasts the growth of the market up to 2011.
Scope
Estimates of the size of the directors' and officers' market, and growth rates between 2002 and 2006. A discussion of the competitive situation in the market, and estimated market shares for the largest competitors. A GWP growth forecast up to 2011, based on in-house expertise and interviews with senior industry executives.
Highlights
It is estimated that the directors' and officers' insurance market in the UK was worth approximately £450 million in 2006 in gross written premiums (GWP). This suggests that the market remained largely static in 2006. This stagnation in growth was due to high levels of competition, which led to falling premium rates. Directors' and officers' insurance offers complex cover which is hard to standardize. Cover and pricing therefore needs to be reviewed on a case by case basis, making it useful for the insurer to sell through intermediaries, so that the broker can provide information on the case, allowing the insurer to price the risk and provide a bespoke service. Interviews with leading directors' and officers' insurance providers and brokers indicated that AIG, ACE and Chubb continued to dominate the market in 2006. Interview respondents listed AIG as the leading player in the market, followed by ACE and Chubb in second and third.
Reasons to Purchase
Gain insight into the growth of the market between 2002 and 2006 Understand the current competitive environment of the UK directors' and officers' insurance market Develop your business strategy using unique sector forecast
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