Studie - Performance Ratio Benchmarking in UK Accident & Health Insurance 2009

Introduction

This brief provides an analysis of the top 10 UK accident and health insurance groups' performance ratios. These ratios are broken down into the loss, commission, administration, and acquisition expense ratios. In addition, the brief provides performance ratios at a market level as well as gross written premium data for the top 20 accident and health insurers.

Scope

*Performance ratios for the top 10 accident and health insurers divided into loss, commission, administration and acquisition expense ratios.

*An understanding of why insurers' performance ratios differ from one another.

*A top level examination of the total market ratios since 2005.

Highlights

The market's total combined operating ratio (COR) remained almost unchanged at 97.4% in 2008.

RBS and BUPA recorded the strongest combined ratios during 2008.

Reasons to Purchase

*Develop your knowledge of underwriting performance in the UK accident and health market.

*Gain insight into the different cost structures held by insurers.

*Benchmark your performance ratios against your competitors.

DATAMONITOR VIEW 1

CATALYST 1

SUMMARY 1

UK ACCIDENT AND HEALTH INSURANCE PERFORMANCE RATIO ANALYSIS 2

The total market loss ratio was higher in 2008, although commission expenses fell 2

The total market COR remained almost unchanged at 97.4% in 2008 2

The accident and health market has been experiencing a greater incidence of fraud throughout the downturn 2

The top 10 UK accident and health insurance groups demonstrated mixed performances in 2008 3

APPENDIX 8

Supplementary data 8

Definitions 9

Acquisition cost 9

Administrative expenses 9

Combined ratio 9

Commission expenses 9

Further reading 9

Ask the analyst 9

Datamonitor consulting 9

Disclaimer 10

List of Tables

Table 1: Top 10 UK accident and health insurance groups' performance ratios, 2008 (%) 7

Table 2: Top 20 UK accident and health insurers and total market size by GWP, 2005-08 (£000s) 8

List of Figures

Figure 1: Over recent years, the UK A&H market has consistently made a reported-year underwriting profit 3

Figure 2: BUPA once again had a successful year as the number one UK A&H insurer in 2008 5

Figure 3: Standard Life, Western Provident Association and RBS all achieved reported-year profits in 2008 6

• Kundenmonitor e-Assekuranz 2011
• Abschlusspotenzial für Krankenzusatzversicherungen 2011
• Pflegespiegel 2011
• Logging On: Making the Most of the Online Channel
• Home Furniture and Homewares Retailers in the Netherlands
• Home Furniture and Homewares Retailers in Ukraine
• Home Furniture and Homewares Retailers in Venezuela
• Pricing & Reimbursement in Emerging Markets: Analysis of pricing mechanisms and the influence of public and private sector health insurance provision
• The Impact of M-Commerce on the Insurance Industry (Analyst Insight)
• Contactless, Mobile, Online and Prepaid in the UK
• Financial Markets Technology Spending Through 2014: Location Segmentation (Interactive Model)
• Global Life & Health Insurance
• M+M Versichertenbarometer 2010: Kundenzufriedenheit und Kundenbindung im Urteil der Versicherten
• Non-life Insurance - BRIC (Brazil, Russia, India, China) Industry Guide
• Non-life Insurance - Top 5 Emerging Markets Industry Guide
• Krankenkassen Markenbarometer 2009 - Markenpositionierung auf dem Prüfstand
• Abschlussbereitschaft und Kundenerwartungen an Krankenzusatzversicherungen
• Aktuelle Entwicklungen im Online Banking, in Online Versicherungen, im Mobile Payment und im Web 2.0 in der Finanzbranche
• UK Personal Insurance Distribution 2009
• Global Life & Health Insurance