Published on : Jul 29, 2016
ALBANY, New York, July 29, 2016: ResearchMoz.us announces the inclusion of a new market research study to its comprehensive collection of research reports. The 33-page research report, titled “UK Commercial Property Insurance: Market Dynamics and Opportunities,” offers an in-depth analysis of the market, providing insights into the current trends and potential opportunities. The research study has made use of analytical tools to determine the key growth prospects in the commercial property insurance market in the U.K.
Commercial property insurance helps insurance holders in covering the cost of rebuilding or repairing the business premises or substituting equipment on a large scale. Some of the risks covered under commercial property insurance are storms, falling trees, burst pipes, subsidence theft, riots, flooding, and fire. The key types of commercial property insurance include contents insurance and buildings insurance. The rising infrastructure expansion projects in the U.K. are expected to boost the demand for commercial property insurance in the next few years.
The research study is expected to help the key market players in formulating their strategies effectively to ensure they are secured against the crucial issues prevailing in the commercial property insurance market in the U.K. The report also assists the decision-makers in gauging the profitability of the commercial property insurance market and determining the influencing factors. To offer a clear understanding of the market, the research study has presented the past performance of the market along with the estimated figures with the help of infographics, tables, and charts.
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In recent years, the commercial property insurance market in the U.K. has been witnessing the effects of unfavorable economic conditions. However, these conditions are turning around and several orders for new construction projects are coming up. This trend is projected to contribute extensively towards the growth of the commercial property insurance market in the U.K.
As per the research study, 2013 is considered as a good year in terms of the number of commercial property insurance claims; however, the cost and volume of the claims increased in the beginning of 2014. The commercial property insurance market in the U.K. witnessed some strain on its combined operating ratio but shows no signs of declining. The insurers in the market are making efforts to reduce their loss ratios owing to the pressure to cut down on the renewal premiums and offer competitive premiums in the next few years.
Some of the key players operating in the commercial property insurance market in the U.K. are Zurich Insurance Plc, ACE European Group Ltd., FM Insurance Company Ltd., Allianz Insurance Plc, Aviva Plc, Axa UK Plc, QBE Insurance (Europe) Ltd., and XL Group Plc. In spite of the effect of the restraining forces acting on the U.K. commercial property insurance market, the market is projected to witness a rise in the commercial property gross written premiums in the next few years, thanks to the recovery of the global economy from the recent economic troubles and the growing number of commercial construction activities.
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