Landlord Insurance in the UK - Key Trends and Opportunities to 2017

LONDON, May 22, 2014 /PRNewswire/ -- Reportbuyer.com has added a new market research report:

Landlord Insurance in the UK – Key Trends and Opportunities to 2017

http://www.reportbuyer.com/banking_finance/insurance/property/landlord_insurance_uk_key_trends_opportunities_2017.html

Synopsis

• The report provides market analysis, information and insights into the UK landlord insurance business
• Provides a snapshot of the market size and segmentation
• It offers a comprehensive analysis of claims, drivers and market outlook
• It analyzes distribution channels
• It outlines deals, news and regulatory developments

Summary

The UK landlord insurance category is estimated to have generated GBP2.51 billion in gross written premiums in 2012, and accounted for 7.3% of the country's non-life insurance segment. Landlord policies cover the financial risks related to renting out a residential or commercial property, including damage to buildings or contents, loss of rent and public liability.
Growth in the category was maintained during the recession and economic weakness during 2008–2011, as a sluggish housing market triggered an increase in properties occupied on a rental basis. This signaled the reversal of a post-war trend towards property ownership, with close to 35% of properties rented through private or social housing landlords in 2012. This marked a five percentage-point increase from 2000 alone.

In addition to the subdued economic backdrop fueling a shift towards rented accommodation, it is also likely to have increased demand for landlord insurance due to greater risk aversion, a larger number of homeowners choosing to rent out property rather than sell at reduced prices, unemployment stoking a rise in the number of tenants in rent arrears, pessimistic businesses reducing their commitment to long commercial leases, and a rise in adverse weather-related incidents.

Opportunities exist to develop the category during the forecast period. Insurer-led market surveys have found that customers are under-informed about the insurance cover required for landlords, with up to a quarter of residential landlords opting to purchase a standard home insurance policy. Switching policyholders to appropriate landlord insurance policies presents a large growth potential for premiums in the category. Looser credit conditions and an increase in buy-to-let lending suggest additional favorable forces.

The outlook for the availability of flood insurance is clouded by uncertainty. Following the shift from the Statement of Principles to the industry and government Flood Re proposal, it has been confirmed that affordable flooding insurance will only be guaranteed for resident homeowners. Consequently, insurance premiums for landlords of both residential and commercial property are expected to face significant upside pressure over the forecast period. Industry associations estimate that the number of properties affected could be as high as 1 million.

Scope

• This report provides market analysis, information and insights into the UK landlord insurance business
• It provides a snapshot of the market size
• It analyzes drivers and the outlook for the market
• It provides information on distribution channels
• It covers deals, news and regulatory developments

Reasons To Buy

• Gain an understanding of the UK landlord insurance market size
• Learn about the performance of market drivers and distribution channels
• Understand the competitive landscape in terms of performance, profitability and product innovation
• Find out more on key deals and recent developments in the market

Key Highlights

• The landlord insurance market is worth GBP2.5 billion
• Growth was sustained during the UK's economic downturn
• Property market conditions were supportive of demand
• Momentum is set to continue
• Flood Re will add uncertainty for landlords

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
3.2 Market Drivers
3.2.1 Residential property market dynamics
3.2.2 Residential construction
3.2.3 Commercial construction
3.2.4 Commercial property market dynamics
3.2.5 Recessionary backdrop
3.3 Claims
3.4 Market Outlook
3.5 Distribution
4 Competitive Landscape
4.1 Participants

4.2 Product Innovation
4.3 Investment Returns
4.4 Landlord Insurance – SWOT Analysis
5 Porter's Five Forces Analysis
5.1 Bargaining Power of Suppliers: Low
5.2 Bargaining Power of Buyers: Medium
5.3 Barriers to Entry: Medium
5.4 Intensity of Rivalry: Medium to High
5.5 Threat of Substitution: Medium
6 Deals
6.1 Brit Insurance Sells Simply Business Stake
6.2 Aviva Joins the PowerPlace Panel for Commercial Property
6.3 Specialist Rent Guarantee Product Launched
7 News
7.1 Flood Re Exclusions Confirmed
7.2 Finances Stretched After Christmas
7.3 Rental Sector Warrants Greater Investment
7.4 Decrease in Tenants on Benefits
8 Regulation and Compliance
8.1 Upcoming Regulations
8.1.1 Commercial Rent Arrears Recovery (CRAR)
8.1.2 Flood Re
8.1.3 Review of the Riot (Damages) Act
8.1.4 Solvency II
9 Macroeconomic Backdrop
9.1 Real GDP Growth
9.2 Property Market Dynamics
9.3 Inflation
9.4 Interest Rates
9.5 Demographics
10 Company Profiles
10.1 Allianz Insurance Plc – Company Overview

10.1.1 Allianz Insurance Plc – key facts
10.1.2 Allianz Insurance Plc – main products
10.1.3 Allianz Insurance Plc – main competitors
10.1.4 Allianz Insurance Plc – key employees
10.2 Aviva Plc – Company Overview
10.2.1 Aviva Plc – key facts
10.2.2 Aviva Plc – main products
10.2.3 Aviva Plc – main competitors
10.2.4 Aviva Plc – key employees
10.3 Axa UK Plc – Company Overview
10.3.1 Axa UK Plc – key facts
10.3.2 Axa UK Plc – main products
10.3.3 Axa UK Plc – main competitors
10.3.4 Axa UK Plc – key employees
10.4 Catlin Insurance Company (UK) Ltd – Company Overview
10.4.1 Catlin Insurance Company (UK) Ltd – key facts
10.4.2 Catlin Insurance Company (UK) Ltd – main products
10.4.3 Catlin Insurance Company (UK) Ltd – main competitors
10.4.4 Catlin Insurance Company (UK) Ltd – key employees
10.5 Direct Line Insurance Group Plc – Company Overview
10.5.1 Direct Line Insurance Group Plc – key facts
10.5.2 Direct Line Insurance Group Plc – main products
10.5.3 Direct Line Insurance Group Plc – main competitors
10.5.4 Direct Line Insurance Group Plc – key employees
10.6 Ecclesiastical Insurance Office Plc – Company Overview
10.6.1 Ecclesiastical Insurance Office Plc – key facts
10.6.2 Ecclesiastical Insurance Office Plc – main products
10.6.3 Ecclesiastical Insurance Office Plc – main competitors
10.6.4 Ecclesiastical Insurance Office Plc – key employees
10.7 FM Insurance Company Ltd – Company Overview
10.7.1 FM Insurance Company Ltd – key facts
10.7.2 FM Insurance Company Ltd – main products

10.7.3 FM Insurance Company Ltd – main competitors
10.7.4 FM Insurance Company Ltd – key employees
10.8 QBE Insurance (Europe) Ltd – Company Overview
10.8.1 QBE Insurance (Europe) Ltd – key facts
10.8.2 QBE Insurance (Europe) Ltd – main products
10.8.3 QBE Insurance (Europe) Ltd – main competitors
10.8.4 QBE Insurance (Europe) Ltd – key employees
10.9 Royal & Sun Alliance Insurance Plc – Company Overview
10.9.1 Royal & Sun Alliance Insurance Plc – key facts
10.9.2 Royal & Sun Alliance Insurance Plc – main products
10.9.3 Royal & Sun Alliance Insurance Plc – main competitors
10.9.4 Royal & Sun Alliance Insurance Plc – key employees
10.10 Zurich Insurance Plc – Company Overview
10.10.1 Zurich Insurance Plc – key facts
10.10.2 Zurich Insurance Plc – main products
10.10.3 Zurich Insurance Plc – main competitors
10.10.4 Zurich Insurance Plc – key employees
11 Appendix
11.1 Methodology
11.2 Contact Timetric
11.3 About Timetric
11.4 Timetric's Services
11.5 Disclaimer

List of Tables

Table 1: Insurance Industry Definitions
Table 2: Table 2: UK Households Living in Privately Rented Properties (Millions), 2007–2012
Table 3: Landlord Insurance: Market Participants
Table 4: UK Landlord Insurance – Market SWOT Analysis
Table 5: Upcoming Regulatory Changes
Table 6: Allianz Insurance Plc, Key Facts
Table 7: Allianz Insurance Plc, Main Products
Table 8: Allianz Insurance Plc, Key Employees
Table 9: Aviva Plc, Key Facts
Table 10: Aviva Plc, Main Products
Table 11: Aviva Plc, Key Employees
Table 12: Axa UK Plc, Key Facts
Table 13: Axa UK Plc, Main Products
Table 14: Axa UK Plc, Key Employees
Table 15: Catlin Insurance Company (UK) Ltd, Key Facts
Table 16: Catlin Insurance Company (UK) Ltd, Main Products
Table 17: Catlin Insurance Company (UK) Ltd, Key Employees
Table 18: Direct Line Insurance Group Plc, Key Facts
Table 19: Direct Line Insurance Group Plc, Main Products

Table 20: Direct Line Insurance Group Plc, Key Employees
Table 21: Ecclesiastical Insurance Office Plc, Key Facts
Table 22: Ecclesiastical Insurance Office Plc, Main Products
Table 23: Ecclesiastical Insurance Office Plc, Key Employees
Table 24: FM Insurance Company Ltd, Key Facts
Table 25: FM Insurance Company Ltd, Main Products
Table 26: FM Insurance Company Ltd, Key Employees
Table 27: QBE Insurance (Europe) Ltd, Key Facts
Table 28: QBE Insurance (Europe) Ltd, Main Products
Table 29: QBE Insurance (Europe) Ltd, Key Employees
Table 30: Royal & Sun Alliance Insurance Plc, Key Facts
Table 31: Royal & Sun Alliance Insurance Plc, Main Products
Table 32: Royal & Sun Alliance Insurance Plc, Key Employees
Table 33: Zurich Insurance Plc, Key Facts
Table 34: Zurich Insurance Plc, Main Products
Table 35: Zurich Insurance Plc, Key Employees

List of Figures

Figure 1: Composition of UK Residential Property by Tenure, 2007–2012
Figure 2: Household Expenditure on Rent and Mortgages (GBP), 2010–2012
Figure 3: UK Residential Construction Output (GBP Million), 2004–2012
Figure 4: UK Commercial Construction Output (GBP Million), 2004–2012
Figure 5: Average Commercial Lease Length (Years), 2002–2011
Figure 6: Landlord Repossessions Through County Courts, 2004–2012
Figure 7: UK Landlord Insurance – Five Forces Analysis
Figure 8: The UK's Insurance Regulatory Framework
Figure 9: Real GDP Growth (%), 2008–2017
Figure 10: UK Commercial and Residential Construction Output, 2004–2012
Figure 11: Consumer Price Inflation (%), 2001–2013
Figure 12: UK Population Growth and Median Age, 1995–2012
Figure 13: UK Standards of Living (GBP), 1997–2011

Read the full report:
Landlord Insurance in the UK – Key Trends and Opportunities to 2017

http://www.reportbuyer.com/banking_finance/insurance/property/landlord_insurance_uk_key_trends_opportunities_2017.html

For more information:
Sarah Smith
Research Advisor at Reportbuyer.com
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