ResearchMoz

Term Life Assurance in the UK, Key Trends and Opportunities to 2017

Timetric
Published Date » 2014-01-09
No. Of Pages » 64
 
     
 
  Synopsis  
  
   
 
 
 The report provides market analysis, information and insights into the UK term life assurance business. 
 It provides a snapshot of market size and market segmentation. 
 It analyzes drivers and the outlook for the market. 
 It provides information on distribution channels for term life assurance products in the UK. 
 It rounds up deals, news and regulatory developments. 
 It provides a detailed analysis of the competitive landscape and key product features. 
 
 
   
  Summary  
     
 New business premiums in the term life assurance category grew by 7.7% in 2012, accompanied by an increase in mortgage-related protection sales. Term life assurance (excluding accelerated critical illness benefit) dominated the UK long-term protection...
Table of Content

1 Executive Summary

2 Introduction
2.1 What is this Report About?
2.2 Definitions
2.3 Methodology
2.4 Market Size
2.4.1 Level-term and decreasing-term assurance new business premiums
2.4.2 UK long-term protection market, new business regular premiums by category
2.4.3 Number of new term life assurance policies sold
2.5 Market Drivers
2.6 Market Outlook 
2.7 Distribution Channels

3 Competitive Landscape
3.1 Best Performers of 2012
3.2 Term Life Assurance – SWOT Analysis

4 Porter’s Five Forces Analysis
4.1 Bargaining Power of Suppliers: Low to Medium
4.2 Bargaining Power of Buyers: Medium to High
4.3 Barriers to Entry: Medium
4.4 Intensity of Rivalry: High
4.5 Threat of Substitutes: Medium

5 Deals and News
5.1 Aviva Launches Life Insurance Radio Advertising Campaign
5.2 Royal London Completes Co-Op Acquisitions
5.3 Aegon Improves Financial and Non-Medical Underwriting Limits for Protection
5.4 LV= Develops Corporate Life Product
5.5 Aviva Predicts Rise in Non-Advised Protection Sales As It Closes Direct Advice Arm
5.6 Ageas Launches Business Protection Product Suite
5.7 Ageas Adds ‘Life of Another’ Option to Product Range
5.8 Zurich and Guardian Launch Life Navigator Campaign

6 Regulation and Compliance
6.1 Regulatory Changes
6.1.1 Risk selection by gender has been outlawed
6.1.2 Retail Distribution Review
6.1.3 ‘I minus E’ taxation change
6.1.4 Consumer Insurance Act
6.1.5 Mortgage Market Review
6.1.6 Solvency II

7 Economic Backdrop
7.1 Real GDP Growth
7.2 Housing and Mortgage Market
7.1 Demographics

8 Company Profiles
8.1 Aegon UK Plc
8.1.1 Aegon UK Plc – key facts
8.1.2 Aegon UK Plc – main products 
8.1.3 Aegon UK Plc – main competitors
8.1.4 Aegon UK Plc – key employees
8.2 Aviva Plc – Company Overview 
8.2.1 Aviva Plc – key facts 
8.2.2 Aviva Plc – main products 
8.2.3 Aviva Plc – main competitors 
8.2.4 Aviva Plc – key employees 
8.3 Ageas UK Ltd – Company Overview
8.3.1 Ageas UK Ltd – key facts 
8.3.2 Ageas UK Ltd – main products 
8.3.3 Ageas UK Ltd – main competitors
8.3.4 Ageas UK Ltd – key employees
8.4 Friends Life Group Plc – Company Overview
8.4.1 Friends Life Group Plc – key facts
8.4.2 Friends Life Group Plc – main products 
8.4.3 Friends Life Group Plc – main competitors 
8.4.4 Friends Life Group Plc – key employees
8.5 Legal and General Group – Company Overview 
8.5.1 Legal and General Group – key facts
8.5.2 Legal and General Group – main products
8.5.3 Legal and General Group – main competitors
8.5.4 Legal and General Group – key employees 
8.6 Liverpool Victoria Group – Company Overview 
8.6.1 Liverpool Victoria Group – key facts 
8.6.2 Liverpool Victoria Group – main products 
8.6.3 Liverpool Victoria Group – main competitors
8.6.4 Liverpool Victoria Group – key employees 
8.7 Lloyds Banking Group – Company Overview 
8.7.1 Lloyds Banking Group – key facts 
8.7.2 Lloyds Banking Group – main products 
8.7.3 Lloyds Banking Group – main competitors 
8.7.4 Lloyds Banking Group – key employees 
8.8 Prudential Plc – Company Overview 
8.8.1 Prudential Plc – key facts 
8.8.2 Prudential Plc – main products 
8.8.3 Prudential Plc – main competitors 
8.8.4 Prudential Plc – key employees 
8.9 Royal London Group – Company Overview 
8.9.1 Royal London Group – key facts 
8.9.2 Royal London Group – main products 
8.9.3 Royal London Group – main competitors 
8.9.4 Royal London Group – key employees 
8.10 Zurich Financial Services Ltd – Company Overview 
8.10.1 Zurich Financial Services Ltd – key facts 
8.10.2 Zurich Financial Services Ltd – main products 
8.10.3 Zurich Financial Services Ltd – main competitors 
8.10.4 Zurich Financial Services Ltd – key employees 

9 Statistics 
9.1 Review Period 
9.2 Forecast Period 

10 Appendix 
10.1 Methodology 
10.2 Contact Timetric 
10.3 About Timetric 
10.4 Timetric’s Services 
10.5 Disclaimer

List of Tables


Table 1: Insurance Industry Definitions 
Table 2: Term Life Assurance – SWOT Analysis
Table 3: Recent and Upcoming Regulatory Changes
Table 4: Aegon UK Plc, Key Facts 
Table 5: Aegon UK Plc, Main Products
Table 6: Aegon UK Plc, Key Employees 
Table 7: Aviva Plc, Key Facts 
Table 8: Aviva Plc, Main Products 
Table 9: Aviva Plc, Key Employees 
Table 10: Ageas UK Ltd, Key Facts 
Table 11: Ageas UK Ltd, Main Products 
Table 12: Ageas UK Ltd, Key Employees 
Table 13: Friends Life Group Plc, Key Facts 
Table 14: Friends Life Group Plc, Main Products 
Table 15: Friends Life Group Plc, Key Employees 
Table 16: Legal and General Group, Key Facts 
Table 17: Legal and General Group, Main Products 
Table 18: Legal and General Group, Key Employees 
Table 19: Liverpool Victoria Group, Key Facts 
Table 20: Liverpool Victoria Group, Main Products 
Table 21: Liverpool Victoria Group, Key Employees 
Table 22: Lloyds Banking Group, Key Facts 
Table 23: Lloyds Banking Group, Main Products 
Table 24: Lloyds Banking Group, Key Employees 
Table 25: Prudential Plc, Key Facts 
Table 26: Prudential Plc, Main Products 
Table 27: Prudential Plc, Key Employees
Table 28: Royal London Group, Key Facts
Table 29: Royal London Group, Main Products
Table 30: Royal London Group, Key Employees
Table 31: Zurich Financial Services Ltd, Key Facts
Table 32: Zurich Financial Services Ltd, Main Products
Table 33: Zurich Financial Services Ltd, Key Employees 
Table 34: UK Term Life Assurance – New Business Premiums (GBP Thousand), 2008–2012 
Table 35: UK Term Life Assurance – New Business Premiums (GBP Thousand), 2013–2017

List of Figures


Figure 1: UK Term Life Assurance (Excluding Accelerated CI) – Total New Business Premiums (GBP Million), 2008–2012 
Figure 3: UK Long-Term Protection Market – New Business Regular Premiums by Category (GBP Million), 2008–2012 
Figure 4: Number of New Term Life Policies Sold by FSA-Regulated Life Insurers, Excluding Accelerated CI (Thousands), 2008–2012 
Figure 5: New Business Premiums for UK Term Life Assurance, Excluding Accelerated CI (GBP Million), 2013–2017 
Figure 6: Top 10 Term Life Assurance Providers Based on Total New Business Premium (Excluding Accelerated CI), 2012 (%) 
Figure 7: UK Term Life Assurance – Five Forces Analysis 
Figure 8: The UK’s Insurance Regulatory Framework 
Figure 9: Real GDP Growth (%), 2008–2017 
Figure 10: Simple Average House Prices in the UK (GBP), 1991–2012 
Figure 11: Number of First-Time Homebuyers (Thousands), 2002–2012 
Figure 12: Total Gross Mortgage Lending (GBP Million), 2002–2012 
Figure 13: Growing and Aging Population, 1995–2012 
Figure 14: UK Population Aged Over 65 (%), 1995–2017 
Figure 15: UK Overall Life Expectancy (Years), 1995–2017 
Figure 16: Improving Living Standards in the UK (GBP Thousand), 1997–2011 

Upcoming Reports:

Greece: beeswax market
By - Williams and Marshal Strategy
This report presents a comprehensive overview of the beeswax market in Greece and its state as of January 2014. It provides detailed analysis of the industry, its dynamics and structure. The purpose of the report is to describe the state of the beeswax market in Greece, to present actual and retrospective information about the volumes and dynamics of production, imports, exports and consumption, the characteristics of the market for the period 2008-2012 and to build a forecast for the market development until 2018. In the same way, the report presents an elaborate overview of the main...
Poland: vinegar market
By - Williams and Marshal Strategy
This report presents a comprehensive overview of the vinegar market in Poland and its state as of January 2014. It provides detailed analysis of the industry, its dynamics and structure. The purpose of the report is to describe the state of the vinegar market in Poland, to present actual and retrospective information about the volumes and dynamics of production, imports, exports and consumption, the characteristics of the market for the period 2008-2012 and to build a forecast for the market development until 2018. In the same way, the report presents an elaborate overview of the main...
Medical Laboratories Market - Global Industry Analysis, Size, Share, Growth, Trends And Forecast, 2014 - 2020
By - Transparency Market Research
Medical laboratories are defined as the independent, commercial enterprises that provide information to the healthcare professionals about the severity, onset and reason of patients' physical ailments. Medical laboratories include biological, bacteriological, histological, pathological and chemical analysis, urinalysis and dental and medical X-rays. About 70% of the health care decisions taken by doctors for treatment of diseases are based on the results of laboratory testing which makes the medical laboratories a vital part of the global healthcare system. Based on the testing...

Research Assistance

We will be happy to help you find what you need.
Please call us or write us:

866-997-4948 (Us-Canada Toll Free)
Tel: +1-518-618-1030
Email: sales@researchmoz.us
Select License type:

Share this report

Related News

Illinois Voicing for Funds to Promote Clean Energy Plants
Mar 26, 2015  
The advocates of renewable energy has been voicing for overhaul of the Illinois’s clean energy law for several years in a row. Refurbishing the law would entail a release of over $100 million that was collected as ratepayer charges that they can invest on payment for new solar and wind projects. However, the proponents could not help the cause and now it seems that the state is...
Michigan To Capitalize on Clean and Local Energy
Mar 26, 2015  
For years now Americans have been campaigning to promote “eat locally and shop locally” culture. Inspired from the drive, Michiganders have got on board the plan to locally harness the energy to power their lives.  It will be very interesting to see how Gov. Rick Snyder’s vision of “no-regret energy future”, which has its key focus on curbing the...
Noble Energy Pulls Out from Ruth C License Exploration
Mar 26, 2015  
Citing issues related to “regulatory uncertainty”, in the energy and gas sector of Israel, the Houston-based company named Noble Energy forwent with its permit for operation in the Ruth C exploration license, as reported by Tel Aviv Stock Exchange on Thursday.  The Ruth C license zone is located off the Haifa coast, to the east of the larger Tamar basin. Energy reserve...
Leaders Go Back to School to Motive Students to Join the Construction Industry
Mar 26, 2015  
The housing sector is facing a major shortage in UK as the region suffers from lack of skilled construction workers. Amidst this crisis, two of the industry leaders are touring schools to encourage students to be a part of the industry which so desperately needs them. According to the Construction Industry Training Board, UK needs a workforce of 180,000 or more with adequate skill sets...
Israel Freezes Construction of 1,500 New Housing Units
Mar 26, 2015  
Israel has scrapped the plan to build 1,500 new housing units in East Jerusalem. The decision comes despite Prime Minister Benjamin Netanyahu's announcement to continue construction regardless of international pressure. East Jerusalem is the neighboring region of Har Homa, a little beyond the Green Line.  From the looks of it, the construction plan in Har Homa seems to have been...