UK commercial market to outperform personal lines

Europe

Two new research reports by market analysis firm Datamonitor indicate that growth in the UK commercial general insurance market is set to exceed that achieved by the personal lines market between 2007 and 2012. The two Datamonitor reports, “UK Personal General Insurance 2007” and “UK Commercial General Insurance 2007” suggest that while the commercial general insurance market contracted in 2006 as a result of high competition, conditions deteriorated in the personal general insurance market with gross written premiums for the major lines – private motor, household property and individual accident and health – only rising by 1.4%. James Dieppe, the author of both reports, said the personal general insurance market is expected to record a compound average growth rate (CAGR) of 4.8% each year between 2007 and 2012, while the commercial insurance market is expected to achieve a stronger CAGR of 5.3%.