NEW YORK, June 18, 2013 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:
Trade Credit Insurance in the UK
http://www.reportlinker.com/p01360798/Trade-Credit-Insurance-in-the-UK.html#utm_source=prnewswire&utm_medium=pr&utm_campaign=Insurance
Trade Credit Insurance in the UK is a report about the market for trade credit cover in the UK. In addition to documenting the development of the market value from 2008 to 2012, the report also divides it for the most recent year between four key segments: between small companies with an annual turnover of less than EUR 5 million and larger companies with a turnover above this threshold; between single-risk and annual policies; between export and domestic trade credit insurance; and between protection acquired for political risks and cover bought for business risks.
These unique market splits are based in part on a survey of leading brokers of trade credit insurance in the UK. This same survey also identifies the underwriters of this type of cover used by brokers on a regular basis, gives an input into Finaccord's estimates for the market shares of underwriters and brokers of trade credit insurance in the UK, provides a basis for commentary surrounding distribution channels used for this type of policy, and informs Finaccord's forecasts for the UK market value through to 2016.
Key features of this report include:
- quantification of the market size for trade credit insurance in the UK: how much is the market worth, how has it developed since 2008 and how does it break down into key segments?
- presentation of the actual or estimated market shares of both brokers and underwriters of trade credit insurance in 2012 based on both the broker survey and other available data sources;
- audit of the frequency of usage of underwriters by major brokers of trade credit insurance in the UK: to what extent are competitors effectively challenging the main incumbent underwriters?
- availability of an accompanying PartnerBASE dataset that logs partnerships for trade credit insurance identified by Finaccord across a combined total of over 50 leading banks and major trade associations;
- forecasts for the market for trade credit insurance in the UK and how it will split between domestic and export trade credit cover: what is this sector likely to look like in 2016?
Table of Contents
0.0 EXECUTIVE SUMMARY
1.0 INTRODUCTION
What is this report about?
Rationale
Several factors underpin the rationale for the production of this study
There are several distribution channel options in addition to brokers
Globally, trade credit insurers cover over EUR 1 trillion of commercial credit exposures
The report provides a standardised analysis of important metrics for trade credit insurance
Methodology
Research program
Market data analysis
Definitions
Trade credit insurance
Single-risk and annual policies
Export and domestic policies
Political and business risks
Premiums
Abbreviations
Currency rates
PartnerBASE
Finaccord
2.0 UK
Introduction
Market size, growth and segmentation
The UK's trade credit insurance market has undergone a period of stagnation in recent years
For several brokers, smaller customers constitute an important part of their client base
The share of single-risk policies within the total market is slightly below the average for Europe as a whole...
... with a similar comment applying in the case of export trade credit insurance
Exports from the UK to other EU countries exceed EUR 300 billion
Cover for political risks plays a relatively important role in the UK market
As the provider of public export credit guarantees, the ECGD has expanded its cover in recent times
Factoring as a complementary / substitute product
The UK plays host to the largest factoring market in Europe
Underwriter market shares
ACE, AIG, CIFS, HCC International, Markel and QBE are among the main challengers to the big three...
...within a market that is fragmented by the standards of other European countries
The leading three underwriters are used frequently by more than two thirds of brokers
Equinox Global was launched as a specialised managing general agent in November 2010
Distribution channels
Brokers are the dominant distribution channel for trade credit insurance in the UK...
... and several operate large dedicated teams including Aon, Marsh, RK Harrison and Reynolds
Banks do not play a particularly significant role in the intermediation of trade credit insurance in the UK...
... although a comparatively high number of trade associations are involved in this sphere
Future outlook
In real terms, the value of the UK's market is unlikely to make much progress by 2016
3.0 APPENDIX
Brokers participating in the survey
LIST OF GRAPHICS / TABLES
0.0 EXECUTIVE SUMMARY
Key market data for trade credit insurance in the UK
1.0 INTRODUCTION
2.0 UK
Gross written premiums for trade credit insurance in the UK, 2008 to 2012
Premiums paid by small companies with an annual turnover of less than EUR 5 million as a proportion of the total market for trade credit insurance in the UK, 2013
Premiums paid for single-risk policies as a proportion of the total market for trade credit insurance in the UK, 2013
Premiums paid for export trade credit insurance as a proportion of the total market for trade credit insurance in the UK, 2013
Values of exports inside and outside the EU and corresponding percentages of GDP in the UK, 2007 to 2011
Premiums paid for political risk cover as a proportion of the total market for export trade credit insurance in the UK, 2013
Total factoring market value in the UK, 2007 to 2011
Estimated market shares of gross written premiums of trade credit insurance underwriters in the UK, 2012
Frequency of usage of specific trade credit insurance underwriters by brokers in the UK, 2013
Major banks offering trade credit insurance in the UK: operating models and partnerships, 2013
Major trade associations offering trade credit insurance in the UK: operating models and partnerships, 2013
Forecast gross written premiums for trade credit insurance in the UK and the proportion due to export trade credit insurance, 2016
Forecast segmentation of gross written premiums in the UK between domestic and export trade credit insurance, 2016 (table)
3.0 APPENDIX
To order this report:
Trade Credit Insurance in the UK
Contact Clare: [email protected]
US:(339) 368 6001
Intl:+1 339 368 6001
SOURCE Reportlinker
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