United Kingdom Commercial Property Insurance Market Report 2022: Size, Trends, Competitor Dynamics and Opportunities - Market Will Grow to £8.85 Billion in 2025 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "United Kingdom (UK) Commercial Property Insurance Market Size, Trends, Competitor Dynamics and Opportunities" report has been added to ResearchAndMarkets.com's offering.

This report analyzes the UK commercial property insurance market, looking at drivers of uptake across different demographics and dwelling types.

It discusses the claims landscape in 2020, as well as the commercial property market across London and upcoming regulatory changes within insurance. Incumbent competitors are analyzed and compared, along with newcomers and insurtechs within the space. The report also explores future impacts in the market, including climate change, underinsurance, and the changing office environment.

Gross written premiums (GWP) in the UK commercial property insurance market grew 15.9% to reach nearly GBP7 billion in 2020. This growth can be attributed to a significant hardening of rates in the market, while demand for policies experienced a slight increase. In early 2020, the claims market was affected by weather-related claims as storms Ciara, Dennis, and Jorge swept through the UK.

The rest of the year was dominated by COVID-19, with shops and offices shuttered for significant periods of time, leading to a boom in business interruption claims. Going forward, claims inflation - driven primarily by global supply-side constraints - will preserve the hardening market as construction costs continue to grow and the economy battles to emerge from both the pandemic and Brexit.

Scope

• GWP in the UK commercial property market grew to almost GBP7 billion in 2020, a growth rate of 15.9%.
• 2020 was the most expensive year of the last decade in terms of claims in the market. Gross claims paid increased 25.1% on 2019 levels to reach GBP2.3 billion.
• Aviva remains the market leader with a market share of 18.8%, growing its GWP to GBP1.3 billion in 2020.

Reasons to Buy

• Analyze the drivers of growth within the UK commercial property market
• Determine areas of concern for insurers and the wider market, including in the claims landscape
• Recognize the impact of Brexit and COVID-19 on the market
• Ascertain the market shares of the leading players
• Examine future opportunities and challenges within the market

Key Topics Covered:

1. Executive Summary

1.1 Market Overview

1.2 Key Findings

1.3 Critical Success Factors

2. Market Dynamics

2.1 the UK Commercial Property Market Grew Significantly in 2020

2.2 2020 Was a Bruising Year for Commercial Property Claims

2.3 2020 Was Damaging for the Construction Sector

2.4 Investment in London Fell in 2020 But Looks Set to Return to Growth in the Future

2.5 Regulations and Tax Incentives Have Affected Individuals' Investment in Commercial Property

2.6 Growing Demand for Housing Will Lead to More Commercial-To-Residential Conversions

3. Competitor Dynamics

3.1 Aviva is Still the Market Leader by Some Distance

4. The Market Going Forward

4.1 Commercial Property Insurance Will Grow to Gbp8.85 Billion in 2025

4.2 Brexit and Covid-19 Will Make for a Harder Recovery for the Construction Industry Than First Thought

4.3 Underinsurance Problems Are Exacerbated by Global Supply-Side Issues

4.4 Grenfell and Esg Initiatives Will Create Challenges and Opportunities for Insurers

4.5 Technology is Becoming More Valuable to Commercial Property Insurers

4.6 the Changing Landscape of Office Working Represents An Opportunity for Insurers

5. Appendix

Companies Mentioned

• Aviva
• AIG
• AXA
• RSA
• Zurich
• Allianz
• Munich Re
• WeWork
• Chubb
• NFU Mutual
• Direct Line Group
• Legal & General
• Greggs
• Intact Financial Corporation
• Generali

For more information about this report visit https://www.researchandmarkets.com/r/fekd3u