Competition in the commercial property insurance market remains high due to overcapacity. In addition to this, the commercial property insurance market has been squeezed by the lack of growth in the supply of insurable commercial property over the last few years. This seems to have started to change in 2012 and early 2013 as parts of the construction sector began to show signs of growth.
Gauge the performance of the top commercial property insurance underwriters in terms of their gross written premiums and combined operating ratios.
Ensure that your strategy differentiates from your competitors in this market.
Gain insight into the major developments in the competitive landscape and how players are shifting their strategies.
Which companies were the top players in the commercial property insurance market in 2012?
How profitable were the top commercial property insurers in 2012?
What were the major developments in competition in 2012 and early 2013?
The top 10 commercial property insurers grew business by 1.6% in 2012, while this rate was 2.7% for the overall market.
The top 20 competitors accounted for 81.8% of the total market in 2012, reflecting a slight decrease in market share.
AXA, Allchurches, and QBE were the only profitable commercial property insurers among the top 10 in 2012, with other competitors reporting CORs of over 100%.