UK SME Insurance: Market Dynamics and Opportunities 2016
SummaryThe UK SME insurance market has continued to grow. In 2015, the market was worth £7.7bn in gross written premiums (GWP), up 12.1% year-on-year. This has been driven by a growing economy, which has facilitated increases in the number of SMEs in the UK and consequently the opportunity to sell commercial insurance.
Key Findings
-Â Micro businesses account for 95.5% of UK private sector enterprises and 18.1% of generated turnover.
-Â Uptake of cyber insurance and directors and officers liability insurance has risen by 11.6 and 10.5 percentage points respectively since 2014.
-Â 38.0% of SMEs are concerned about an event that would stop them trading.
- The UK SME insurance market is forecast to be worth £9.04bn in 2020.
Synopsis
Verdict Financial’s “UK SME Insurance: Market Dynamics and Opportunities 2016†report analyzes the UK SME insurance market. Economic factors including GDP growth, SME business confidence, and unemployment rates are explored in relation to the UK’s business landscape. Growth in the number of SMEs is explored by business size and industry. The SME market is discussed in relation to the uptake of commercial insurance. Finally an estimate of the current and historic market size is provided, in addition to a five-year forecast.
Reasons To Buy
-Â Be aware of the significance of SMEs within the commercial insurance market and how they are influenced by the UK economy.
-Â Adapt your strategy and ensure you remain competitive by understanding the opportunities for growth within the SME insurance market.
-Â Recognize the challenges the SME insurance market faces.
GlobalData is a one-stop solution for actionable insight into the pharmaceutical and medical device sectors. Together with the best team of researchers, analysts, epidemiologists and consultants, and an unmatched suite of proprietary databases, we provide high-quality, accurate and transparent insight that can help you achieve growth and increase business value.
Our valuable research and consulting solutions ensure you stay at the forefront of the industry by integrating accurate market forecasts and healthcare analytics on the latest trends and developments. Among other benefits, our informed healthcare industry perspectives have assisted businesses based across the pharmaceuticals, biotechnology and medical equipment markets in making strategic decisions that have increased the value of their products and services.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.