The UK SME Non-Life Insurance market size was valued at $10.80 Billion in 2020 and is expected to reach $14.74 Billion by 2027 growing at the CAGR of 14.54% from 2021 to 2027. This growth is attributed to several macro and micro economic factors such as
- Increasing number of SMEs
- Increasing number of Risk Factors
- Increasing demand for Property and motor insurance
Further several factors restraining the market growth include
- Insufficient saving and financial protection
The increasing demand for cyber insurance is expected to generate higher avenues for UK SME Non-Life Insurance market players during the forecast period.
The COVID-19 pandemic has led to supply chain disruptions leading to supply shortages or lower demand in the UK SME Non-Life Insurance market. The travel restrictions and social-distancing measures have resulted in a sharp drop in consumer and business spending and this pattern is to continue for some time. The end-user trend and preferences have changed due to the pandemic and have resulted in manufacturers, developers, and service providers to adopt various strategies to stabilize the company. In terms of COVID 19 impact, the UK SME Non-Life Insurance market report also includes following data points:
- Impact on UK SME Non-Life Insurance market size
- End User Trend, Preferences and Budget Impact
- Regulatory Framework/Government Policies
- Key Players Strategy to Tackle Negative Impact/Post-COVID Strategies
- Opportunity in UK SME Non-Life Insurance market
Key Insight in the report:
The UK SME Non-Life Insurance market report covers executive summary, market dynamics, COVID impact & post COVID scenario, market size and forecast, competitive intelligence, market positioning, and product End-User.
Our report covers extensive competitive intelligence which include following data points:
- Business Overview
- Business Segment Data
- Financial Data
- Product Segment Analysis and Specification
- Recent Development and Company Strategy Analysis
- SWOT Analysis
The report covers market sizing and forecasting at the country level as well as at the segment level. UK SME Non-Life Insurance market is analyzed across below-mentioned different segments:
- Type
- Micro 0-9 employees
- Small 10-49 employees
- Medium 50-250 employees
- End-User
- Agriculture
- Construction
- Hospitality
- Professional Services
- Utility sector
- Retail
- Real Estate
- Others
The some of the key players in of UK SME Non-Life Insurance market include:
- Allianz Insurance
- AXA Insurance UK
- Zurich Insurance
- Aviva
- AIG
- Liberty specialty Insurance Europe Limited
- Hiscox Ltd.
- Hannover Re
- RSA Insurance Group
- Direct Line Insurance Group
REPORT CONTENT BRIEF:
- High level analysis of the current and future market trends and opportunities
- Detailed analysis on current market drivers, restraining factors, and opportunities in the future
- UK SME Non-Life Insurance market estimates for 2020 and forecast from 2021 to 2028
- Vendor market share analysis at each product level
- Competitor analysis with a detailed insight into its product segment, financial strength, and strategies adopted.
- Identifies key strategies adopted including product launches and developments, mergers and acquisitions, joint ventures, collaborations and partnerships as well as funding taken and investment done, among others.
Target Audience
- Manufacturers
- Suppliers and traders
- Government, associations, and industrial bodies
- Investors and trade experts
- Consulting Firms or Individual Consultant
- Anyone interested in understanding industry dynamic of UK SME Non-Life Insurance market
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