Research and Markets: Pricing Strategies in UK Private Motor Insurance

DUBLIN, Ireland--May 1, 20040, 2004--Research and Markets (http://www.researchandmarkets.com) has announced the addition of the "Pricing Strategies in UK Private Motor Insurance 2004" report to their offering.

Is the private motor market about to embark on another period of fierce price-based competition without ever having recovered fully from the last soft market? This report examines data on rate pricing for the top private motor insurers in the UK and provides insight into future rate movements in this highly price-competitive market

Scope of this report:

Data on leading UK private motor insurers books of business, including average premium rates, volumes of business and gross claims ratio

Analysis on the likely future direction of the underwriting cycle and the strategies of the major competitors in this sector

Assessment of the impact of structural market changes which could alter the nature of competition in the private motor sector

Report Highlights:

Direct Line and Churchill have had the cheapest average comprehensive premium of the top 6 players since 2001, for which they have paid the price with higher average claims ratios. However, both companies have benefited from their lower cost bases to keep overall combined ratios down

RBS has acquired a 23.6 per cent share of the private motor market on a pro forma basis. With such dominance of this sector, pricing strategies will be largely dependent on moves made by the RBS Group

Interviews with senior motor industry executives ascertained what likely premium rate movements will occur throughout 2004. Approximately 53 per cent of the market in terms of premium income categorically stated to Datamonitor that they will increase premiums in line with claims inflation, or will not reduce premiums in the face of any price war

Read this report to:

Understand the future pricing movements in the private motor sector and identify which are the most aggressive players in this market

Plan your future motor insurance strategy with confidence based on in-depth understanding of the future profitability of this sector

Benchmark your performance against your competitors in terms of premium rate increases and technical profitability using in-depth data and analysis

For more information visit http://www.researchandmarkets.com/reports/c1851