UK commercial market set to outperform the personal market
New reports from independent market analyst Datamonitor indicate that growth in the UK commercial general insurance market will exceed that achieved by the personal general insurance market between 2007 and 2012.
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 (GWP) for the major personal lines – private motor, household property and individual accident and health – only rising by 1.4%. Softer market conditions are now expected to lead the personal general insurance market to record a compound average growth rate (CAGR) of 4.8% each year between 2007 and 2012
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