Dublin, April 24, 2025 (GLOBE NEWSWIRE) -- The "UK Household Insurance: Market Dynamics and Opportunities 2024" report has been added to ResearchAndMarkets.com's offering.
This report analyzes the UK household insurance market, looking at drivers of uptake across different demographics and dwelling types. The report discusses the claims landscape in 2023 as well as the housing market and upcoming regulatory changes within insurance.
Incumbent competitors are analyzed and compared, as are newcomers and insurtechs within the space. Future impactors in the market, including climate change and smart home devices, are also covered.
Gross written premiums (GWP) in the household insurance registered grew to GBP7.07 billion in 2023 and continued growth in 2024, driven by an increase in premium rates rising. Growth in 2023 was largely driven by an 11.6% rise in the average premium price across all three products. Specifically, premiums for combined, buildings-only, and contents-only insurance policies increased by 12.9%, 14.9%, and 7.1%, respectively, in 2023. However, it is crucial to note that the cost-of-living crisis/inflation continued to exert considerable pressure on consumers, resulting in 17.9% opting to cancel their policies. The housing market faced challenges due to high interest rates and inflation, leading to a decline in mortgage approvals in 2023.
Reasons to Buy
- Identify underlying drivers of demand and premium prices for home insurance products.
- Examine the nature of the claims landscape in 2023.
- Compare the performances of market leaders throughout the year.
- Determine how insurtechs are attempting to gain traction in the market.
- Understand the progression of home insurance lines into the future.
Key Topics Covered:
- Executive Summary
- Market Dynamics
- Competitor Dynamics
- The Market Going Forward
Company Coverage:
- Aviva
- Allianz
- Admiral
- RSA
- Direct Line
- Chubb
- Lloyds Banking Group
- Ageas
- AXA
- NFU Mutual
- LV=
- L&G
- Flood Re
- Zurich
- Barclays
- TSB Bank
- Lemonade
- Co-op
- Amazon
- Sky
- Hiscox
- Jungle
- Getsafe
- Bubble
- Hippo
- Flood Re
- SAGIC
- ECH Facilities
- Virgin Money
For more information about this report visit https://www.researchandmarkets.com/r/92aepj
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