Insurance Industry in the United Kingdom - Global Strategic Business Report

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1 Brochure More information from Insurance Industry in the United Kingdom - Global Strategic Business Report Description: The Insurance Industry in the United Kingdom Report provides insightful analysis, market overview, industry structure and outlook of life and non-life insurance industries in the country. The report also examines the pension and reinsurance markets as well as other sectors of non-life insurance industry like property, health, accident, general liability, pecuniary loss, personal lines, and pet insurance among others. Get a rudimentary insight into the insurance market trends & issues, marketing strategies, and regulatory environment within the country. The report provides a compilation and discussion on recent spate of mergers & acquisitions and other industry activities, which have irreversibly changed the landscape of the industry. Get a birds eye view of the latest launches of insurance products by major industry players in the country. The report also peeps into the recent past/ historical perspective of the countrys insurance market and corporate developments/product launches within the industry. A regional level discussion also looks into the leading companies footing in these markets along with their annual written premiums and/ or market shares. The report discusses several key and niche players such as Abbey National PLC, Allianz Corn hill, Amlin PLC, Aviva Plc, Halifax Life, Hiscox Ltd., Legal & General Group Plc., Lloyds of London, Lloyds TSB Group Plc, Markel International Ltd., NatWest Life, NFU Mutual Insurance Co., Prudential PLC, Royal & Sun Alliance Insurance Group, Standard Life Plc, and The Equitable Life Assurance Society. Discussion on some of the UK based global leading brokers like HBOS PLC, Jardine Lloyd Thompson Group Plc, and Willis Group Holdings Ltd. has also been compiled in the report. Please note: Reports are sold as single-site single-user licenses. The delivery time for hard copies is between 3-5 business days, as each hard copy is custom printed for the organization ordering it. Electronic versions require hours as each copy is customized to the client with digital controls and custom watermarks. For information on site licence pricing please click on Enquire before buying Contents: INSURANCE INDUSTRY IN THE UNITED KINGDOM A STRATEGIC BUSINESS REPORT CONTENTS 1. Market Overview UK-1 Table 1: UK Recent Past, Current & Future Analysis for Insurance Industry by Segment - Life & Non-Life Markets Independently Analyzed with Annual Premium Income in GBP Billion for the Years 2006 through 2010 (includes UK-1 Table 2: UK 5-Year Perspective for Insurance Industry by Segment - Percentage Breakdown of Premium Income for Life and Non-Life Markets for 2006, 2008, and 2010 (includes UK-2 Table 3: UK Insurance Industry (2006): Per Capita Premium in US$, and Penetration of Insurance by Category - Life & Non-Life UK-2 Market Snippets UK-2 Health Insurance: An Illustrious Year UK-2 Internet Aids Growth of Travel Insurance Market UK-3 Table 4: UK Recent Past, Current & Future Analysis for Travel Insurance Market in GBP Million for the Years 2006

2 through 2010 (includes UK-3 Table 5: UK Travel Insurance: Gross Written Premium in Pound Million for Years 2001 through 2005 (includes corresponding UK-3 Travel Insurance Sector Fueled by Britain s Growing Emigrant Community UK-3 Growing Popularity of Annual Insurance Policies to Drive Travel Insurance Sector UK-4 Travel Insurance Markets Register Higher Value Growth UK-4 Increasing Foreign Trips Fuel Travel Insurance Penetration Levels UK-4 Ageing Passengers to Fuel Insurance Sales UK-4 ATII Raises Concern on Travel Insurance Sales UK-4 Travel Insurance Intermediaries Express Disapproval over Sales UK-5 Travel Agents Share Declines for Travel Insurance Distribution Channel UK-5 Rising Medical and legal costs Spiral Personal Injury Claims UK-5 Demand for Annuities Set to Rise Rapidly UK-5 UK Insurance Industry Snapshots UK-5 Relative to World UK-5 Relative to Europe UK-6 Relative to the UK UK-6 More Facts about the UK Insurance Industry UK-6 Get Set...Grow UK-6 Investigations Unearth Startling Facts UK-7 2. Structure of the UK Insurance Market UK-8 General & Long Term Insurance - A Unique Market Split UK-8 Market Concentration UK-8 Table 6: UK Insurance Market (2005): Number of Companies By Category for General Insurance, Long-Term Business and Both (includes UK-8 Table 7: UK Insurance Market (2005): Average Annual Household Expenditure on Insurance in Pounds by Segment - Home Buildings/Structure, Home, Income Protection, Life Insurance, Medical, Motor, Mortgage Protection, and Personal Pension (includes UK-9 Motor Insurance - A Highly Concentrated Market UK-9 Table 8: UK Private Motor Insurance Market: Net Written Premium in Pound Billion for Years 2005 & 2006 UK-9 Private Motor Insurance Market Records Declining Profitability UK-10 Green Motor Insurance Line to Grow UK-10 An Increasing Car Insurance Premiums UK-10 In-Vehicle Telematics Technology for The UK Motor Industry - A Brief UK-10 Motor Insurance Industry and Telematics UK-11 Aging Baby Boomers - A Concern in the UK Insurance Industry UK-12 High Proportion of Overseas Business UK-13 Table 9: UK Insurance Industry (2005): Percentage Breakdown of New Business Premium Mix by Category - Mutual, Overseas, UK Listed, and Others (includes UK-13 Stocks and Shares Rank Top line Choices for Insurers Investment Holdings UK-14 Table 10: UK Insurance Market (2005): Total Long Term and General Insurance Investment Holding in Billion by Category - Public Sector Securities, Ordinary Stocks and Shares, Property, Unit Trusts, and Cash and Other Investments (includes UK-14 Table 11: UK Insurance Market (2004): Total Long Term and General Insurance Investment Holding in Billion (includes

3 UK-15 Direct Writers - A Key Link in the Market Vertical UK-15 Fluctuating Regulations Cast a Spell of Chaos on the Industry UK-15 United Kingdom s Insurance Market Unstable UK-16 Long Life Products Go Strong UK-16 Table 12: UK Life Insurance Industry: Life Annualized New Business in US$ Billion and Percentage Value Breakdown of LANB by Savings & Protection, Pensions, Pension Annuities and Group Risk (Regular, Non-Profit) for the Years 2001, 2002, 2003, 2004, 2005 and 2010 (includes corresponding UK-16 E-Commerce & Outsourcing - To Rise & Shine the UK Insurance Sector UK-17 Investment Pattern UK-17 Consumer Trends UK-17 Women Not a Popular Target for Online Insurers UK-17 Consumer Preferences UK Insurance Market Trends UK-19 Officers and Directors Insurance Market in the UK Registers Stagnant Growth UK-19 Mutual Insurance Gains Ground Amid Adversities UK-19 Online Insurance on the Rise UK-19 Table 13: Online Insurance Growth in the UK ( ): Percentage Share of Online Sales of Motor and Home Insurances (includes UK-20 Structural Insurance on Decline UK-20 Product Diversification and Service Differentiation Drive Volumes UK-20 Personal Lines - A Wave of Reforms UK-21 Impact of Climatic Transitions on Insurance Industry UK-21 Citizens of The UK Resort to Insurers for Settling Neighborly Disputes UK-21 London Insurance Market - An Overview UK-22 The UK Insurance Industry - An Overall Market Scenario UK-22 The UK Commercial Insurance Fraud UK A Review of UK Insurance Industry Sectors UK-24 Long-Term Insurance UK-24 Table 14: UK Long Term Insurance Market (2005): Net Premium Income in Pound Billion by Category - Group Pensions, Life & Annuities, Individual Pensions, and Income Protection & Other Business (includes UK-24 Table 15: UK Long Term Insurance Market (2005): Benefits Paid in Pound Billion by Category - Life & Annuities, All Pensions, and Income Protection & Other Business (includes UK-24 Table 16: UK Long Term Insurance Market (2005): Individual Business Policies in Million by Category - Life & Annuities, All Pensions, and Income Protection & Other Business (includes UK-25 Table 17: UK Long Term Insurance (2005): Percentage Market Share of Sales by Category - Single Tie/Limited Range, IFAs/Whole of Market, and Non-Intermediated (includes UK-25 Table 18: UK Long Term Insurance ( ): Life & Annuities Net Premium (NP) in US$ Billion and Percentage Breakdown of NP by Regular and Single Premiums (includes (includes corresponding

4 UK-25 Table 19: UK Long Term Insurance ( ): Individual/ Other Pensions Net Premium (NP) in US$ Billion and Percentage Breakdown of NP by Regular and Single Premiums (includes UK-26 Table 20: UK Long Term Insurance ( ): Income Protection Net Premium (NP) in US$ Billion and Percentage Breakdown of NP by Regular and Single Premiums (includes UK-26 Table 21: UK Long Term Insurance ( ): Total Benefits (TB) in US$ Billion and Percentage Breakdown of Total Benefits by Pensions, Life & Annuities and Income Protection (includes UK-27 Table 22: UK Long Term Insurance ( ): Total Business Policies (TBP) in US$ Billion and Percentage Breakdown of TBP by Life & Annuities, Pensions and Income Protection Life Insurance (includes UK-27 4a. Life Insurance UK-28 Table 23: Leading Players in the UK Insurance Market (2006): Percentage Breakdown of Net Premiums by Company - Standard Life, AVIVA Plc, Legal & General, Prudential, Lloyds TSB Group, Aegon, ALICO, HBOS Financial Services, AXA, Canada Life and Friends Provident (includes UK-28 Table 24: UK Life Insurance Market (2006 & 2007): Percentage Market Share of Net Written Premiums by Category - Life Insurance, Individual Pensions, Occupational Pensions, Income Protection and Others (includes UK-29 Table 25: UK Life Insurance Market (2005 & 2006): New Business Premiums (Regular) in Pound Million by Category - Individual Pension, Group Pension, Individual Protection, Group Protection, Investment & Savings, Collective Investment & Schemes, Other Stakeholder Products, and Offshore Business (includes UK-29 Table 26: UK Life Insurance Market (2005 & 2006): New Business Premiums (Regular) by Distribution Channel - Single Tie, IFAs/Whole of Market, and Non- intermediated (includes UK-30 Table 27: UK Life Insurance Market (2005 & 2006): New Business Premiums (Single) in Pound Million by Category - Individual Pension, Group Pension, Individual Protection, Pension Annuities & Income Drawdown, Investment & Savings, Collective Investment & Schemes, Other Stakeholder Products, and Offshore Business (includes UK-30 Table 28: UK Life Insurance Market (2005 & 2006): New Business Premiums (Single) by Distribution Channel - Single Tie, IFAs/Whole of Market, and Non- intermediated (includes UK-31 Categorization of the UK Life Insurers UK-31 Restructuring of the Industry UK-31 Opportunities for Life Insurers UK-32 Life Insurance Prices to Drop in UK UK-32 Outlook for the Life Market UK-32 Industrial Branch Business UK-33

5 About Endowment Mortgages UK-33 Hybrid and Savings Plans - Futuristic in Nature UK-34 The Pension Sector UK-34 Table 29: UK Pension Market (2005): Total Funded Pensions in Billion by Type - Self-Administered Pensions, Insurance Individual Pensions, and Insurance Occupational Pensions (includes UK-34 Compulsory Pension (Contributory State Pension) UK-35 Safety Net Pension (Non-Contributory State Pension) UK-35 Occupational Pensions (Voluntary) UK-35 Personal Pensions and Other Retirement Savings (Voluntary) UK-35 Stakeholder Pensions UK-35 Pension Credit UK-36 An Impetus to Sagging Pensions Market UK-36 Traded Endowment Policies (TEPS) UK-36 A Fast Growing Financial Services Segment UK-36 The Origins UK-37 Target Audience UK-37 Triple Benefits UK-37 Protection and Investor Considerations UK-37 Supply and Demand Scenario - A Historic Review UK-37 Table 30: Percentage of TEPS Offered by Life Companies to Market Makers (includes UK-38 4b. General Insurance UK-39 Table 31: UK Non-Life Insurance Market (2006 & 2007): Percentage Breakdown of Net Written Premiums by Category - Motor, Property, Accident & Health, Pecuniary Loss, Liability and Others (includes UK-39 Table 32: UK General Insurance Market (2005): Percentage Breakdown of Sales by Channel -Banks/Building Societies, Company Agents, Direct, Independent Intermediaries, Retailers/ Affinity Groups/ Utility Groups, and Others (includes UK-39 Table 33: UK General Business Insurance Industry (2005): Domestic Risk Net Written Premium (NWP) in Billion and Percentage Breakdown of NWP by Sectors for Motor, Accident & Health, Property, Pecuniary Loss and General Liability (includes UK-40 Table 34: UK General Business Insurance (Excluding UK Risks) Industry (2005): Net Written Premium (NWP) in Billion and Percentage Breakdown of NWP by Home Foreign, Marine Aviation & Transport, and Non-MAT Reinsurance (includes corresponding UK-40 Table 35: UK Commercial Insurance Market (2005): Percentage Breakdown of Claims by Business Sectors - Employers Liability, Motor/Fleet Vehicle, Professional Indemnity, Property, and All Risks Packaged Policy (includes UK-41 Table 36: UK General Business Insurance Industry ( ): Domestic Risk Net Written Premium (NWP) in US$ Billion and Percentage Breakdown of NWP by Sectors for Motor, Accident & Health, Property, Pecuniary Loss and General Liability (includes UK-41 Table 37: UK General Business Insurance (Excluding UK Risks) Industry ( ): Net Written Premium (NWP) in US$ Billion and Percentage Breakdown of NWP by Home Foreign,

6 Non-MAT Reinsurance and Marine Aviation & Transport (includes UK-42 Underwriting Profits UK-42 Motor Insurance UK-42 Uncertain Future UK-42 Performance - A Perspective UK-43 Table 38: UK Motor Revenue Account (2005): Net Written Premium (NWP) in Pound Million for Domestic and Commercial Segments (includes UK-43 Table 39: UK Motor Revenue Account ( ): Net Written Premium (NWP) in US$ Billion and Percentage Breakdown of NWP by Domestic and Commercial (includes UK-43 Table 40: UK Motor Revenue Account ( ): Claims Incurred (CI) in US$ Billion and Percentage Breakdown of CI by Domestic and Commercial (includes corresponding UK-44 Competition Metamorphoses the UK Motor Industry UK-44 Private and Commercial Motor Market UK-45 Innovative Products at Low Premiums UK-45 Motor Insurance Offer Low Returns on Capital UK-45 Motor Cycle Claims UK-45 Effect of Competition and Pricing UK-46 4c. Property Insurance UK-47 Table 41: UK Property Damage Revenue Account (2005): Net Written Premium (NWP) in Million by Domestic and Commercial Segments by Category - Claims Incurred, Change in Provisions, Commission & Expenses, and Equalization Reserves (includes UK-47 Table 42: UK Property Damage Revenue Account ( ): Net Written Premium (NWP) in US$ Billion and Percentage Breakdown of NWP by Domestic and Commercial Segments (includes UK-47 Table 43: UK Property Damage Revenue Account ( ): Claims Incurred (CI) in US$ Billion and Percentage Breakdown of CI by Domestic and Commercial Segments (includes UK-48 Equalization Reserves UK-48 A Review of Past Performance UK-48 Property Insurance Loses Ground UK-48 Rate Hikes Indispensable UK-49 Intermediaries Command Distribution of Home Insurance UK-49 Price Sensitivity of Household Insurance Premiums UK-49 Determinants UK-50 Trend Towards Single Adult Homes UK-50 Brighter Prospects in the Offing UK-50 Competition Intensifies UK-50 SMEs Becoming Key Customers for Property & Liability Insurers UK-51 4d. Accident and Health Insurance UK-52 Table 44: Growth of Permanent Health Insurance Policies (includes UK-53 Health Insurance Highlights UK-53 Critical-Illness Plan to Dominate UK Market UK-53 Corporate Sector Holds Hope for UK s Health Insurance Market Rising Private Medical Insurance Claims UK-54 Table 45: Ratio of the UK Working Age Over Pensionable Age (includes UK-54 UK-53

7 The Key for Retention UK-54 Long Term Care UK-54 Booming Long-Term Healthcare Insurance Market in the UK Control of Personal Investment Authority UK-55 Outlook UK-55 Changes in UK Healthcare System - Impacts on Healthcare Insurance UK-55 UK-54 4e. General Liability Insurance UK-57 Types of Covers UK-57 Table 46: Liability Account Gross Premiums Written ( Million) (includes UK-58 Accident Insurance Market Lurking with Unlimited Liability Cover UK-58 4f. Pecuniary Loss Insurance UK-60 Key Types UK-60 UK Creditor Insurance Market - An Overview UK-60 Table 47: UK Recent Past, Current & Future Analysis for Credit Insurance Market in GBP Billion for the Years 2006 through 2010 (includes UK-61 Popularity of PPI Declines in Recent Years UK-61 PPI Affected by Negative Adulation UK-61 Regulatory Assessment Highlights Several Failures in Creditor Insurance Industry UK-61 Commercial Insurance For Small Business UK-62 Commercial General Insurance Industry in the UK to Register Robust Growth UK-62 Direct Writers Find Favor UK-62 Searching for More Niches UK-63 Brokers Calling the Shots UK-63 Soft Market Leads to Policy Changes UK-63 4g. Pet Insurance Market UK-65 Dogging the Pet Insurance Segment UK-65 Low Costs Spur Sales UK-65 Table 48: UK Recent Past, Current & Future Analysis for Pet Insurance Market in US$ Million at Retail Price for the Years 2006 through 2010 (includes UK-65 Competitive Scenario UK-65 Table 49: Leading Players in UK Pet Insurance Market (2005): Percentage Market Share by Company - Allianz Cornhill, AXA Insurance, Domestic &General, Royal &SunAlliance, Thornside, UKI Partnerships, and Others (includes corresponding UK-66 Changing Market Conditions UK-66 Marketing and Distribution UK-66 Outlook UK-66 4h. Personal Lines Insurance UK-67 Home Insurance and Motor Insurance Rake in Most Subscriptions Table 50: UK Insurance Industry (2004): Household Expenditure by Percentage of Households Purchasing Insurance and Annual Expenditure Per Household in (includes corresponding UK-67 Key Players UK-67 UK UK - Post September 11 UK-68 London Goes the Subscription Way UK-68 Trends in Reinsurance UK Key Market Trends/Issues - A Historic Review UK-69 Dismal Market Conditions UK-69 Bad Times for Insurers? UK-69

8 Soft Markets for Commercial Insurance and Reinsurance UK-69 Consolidation in the Insurance Market UK-70 Consolidations in the IFA Sector UK-70 IFAs Outlook Gloomy UK-70 Few Investors Choose to Invest in IFA s UK-70 Flooding: A Cause of Concern for UK Insurers UK-71 Concentration in the Non-Life Insurance Market UK-71 Effect of Demographic Trends on Insurance Penetration UK-71 Table 51: Population Trends: (includes UK-72 Information Technology in Insurance UK-72 Distribution UK-73 Entry of Banks Into Insurance UK-73 Table 52: Leading Bancassurers in the UK by Net Reinsurance Premium: 2000 ( Million) (includes corresponding UK-73 Work-Site Marketing Rising to New Heights UK Marketing Strategies UK-75 Telemarketing in the UK Insurance Market UK-75 Advertisements UK-75 Direct Mail UK-75 E-commerce & M-commerce UK-76 Customer Relationship Management (CRM) UK Regulatory Environment UK-77 Insurance Industry Joins Hands with CIFAS in Fraud Fighting Initiative UK-77 Salient Features UK Outlook UK-79 Future Trends UK Market Minder: Past Bites UK-80 Per Capita Insurance Expenditure UK-80 Table 53: Household Expenditure on Insurance by Type in the UK: 2000 (includes UK-80 Premiums & Claims UK-80 Table 54: UK Motor Insurance Market (2002): Risks Premium Income by Category in Billion (includes corresponding UK-80 Table 55: UK Private Motor Insurance Market ( ): Percentage Breakdown of Premium Income by Distribution Channels (includes UK-81 Table 56: UK Private & Commercial Motor Insurance Market (2002) UK-81 Table 57: Long-Term Insurance Market in UK: 2000 ( Billion) (includes UK-81 Table 58: Gross Premiums Written for UK Property/ Casualty Insurers: 2000 & 1999 (In Million) (includes corresponding UK-82 Table 59: UK Motor Insurance Business: 2000 ( Billion (includes ) UK-82 Market Leaders UK-83 Table 60: Top-Five Players in the UK Life Insurance Market (2002) - Gross Written Premium in US$ Million for Barclays, Standard Life, Norwich Union, Prudential, and Halifax (includes UK-83

9 Table 61: Top-Five Players in the UK Non-Life Insurance Market (2002) - Gross Written Premium in US$ Million for Norwich Union, Royal & Sun Alliance, Zurich, AXA, and Churchill (includes UK-83 Table 62: Leading Players in the UK Private Motor Insurance Market (2002): Companies Ranked by Gross Earned Premium in Million and Vehicle Exposure in 000 Vehicle Years (includes UK-84 Table 63: Leading Players in the UK Commercial Motor Insurance Market (2002): Companies Ranked by Gross Earned Premium in Million and Vehicle Exposure in 000 Vehicle Years (includes UK-85 Table 64: Leading Insurance Players in the UK (2000): Company/Group Ranked by Premiums Written in US$ billion for CGU, Royal & Sun Alliance, Guardian Royal Exchange, BUPA, Corn hill, Z.F.S. Group, Direct Line, NFU, Independent Group and GE Financial (includes UK-86 Table 65: Leading Life Insurers in the UK by Net Reinsurance Premium: 2000 ( Million) (includes corresponding UK-86 Investment Holdings UK-87 Table 66: Break Up of Total Long-Term and General Insurance Investment Holdings in 2000 ( Billion) (includes UK Review of the Sectors: Mid-90s UK-88 Table 67: Non-Life Investments Distribution in the UK Composites Market: 1994 (includes Motor UK-89 Table 68: UK Private Motor Underwriting Ratios (%) (includes UK-89 UK-88 Table 69: Premium of the Composites Under Motor: Mid-90s ( Million) (includes UK-89 Table 70: The UK Private Motor Insurance Market: ( Million) UK-90 Table 71: UK Commercial Motor Underwriting Ratios (%) (includes UK-90 Table 72: UK Commercial Motor Gross Premiums: Mid-90s ( Million) (includes UK-91 Table 73: Commercial Motor Premium Distribution: 1989 vs (includes UK-91 Property UK-92 Table 74: UK Commercial Property (Including Other) Underwriting Ratio (%) (includes corresponding UK-92 Table 75: Net Written Property/Casualty Premium Distribution By Line: 1994 ($ Million) (includes corresponding UK-92 Liability UK-93 Table 76: Breakup of Liability Among the Composites in the Mid-90s UK-93

10 Table 77: Written Premiums in Million: 1993 (includes UK-93 Table 78: Occupational Disease Claims in Terms of Percentage (includes UK-94 Accident & Health UK-94 Table 79: Pecuniary Loss - Net Premiums Written and Underwriting Results by Company ( Million) UK-94 Life.UK-95 Table 80: Life Premiums in Total Premiums of the Composites (includes UK-95 London - An Integral Part of the UK Insurance Industry UK-95 Composition of the Market UK-95 Marine & Energy Insurance Market UK-96 Reinsurance in the London Market UK-96 The London Market Consolidation UK Product Innovations / Service Introductions UK-98 Buddies Launches Discount Pet-Insurance Scheme UK-98 Post Office Introduces New Life Insurance Policy UK-98 Direct Line to Introduce Four New Commercial Insurance Policies UK-98 Zurich to Re-Launch its Home Solutions Product UK-99 Markel International Introduces Medical Malpractice Product UK-99 Tesco Launches Cheap Health Insurance UK-99 Hiscox Rolls Out New Insurance Policies UK-99 Halifax Rolls Out New Insurance Product UK-99 Sterling Life Offers Life Cover for Armed Forces UK-99 Allianz Re-Launches Motor Trade Product UK-99 WPA Introduces Mycancerdrugs UK-99 Lloyds Offers Free Cover UK-100 Groupama Re-Launches Optima Bike UK-100 UK Post Office Launches Van Insurance UK-100 BIBA Launches PPI Products UK-100 BIBA Rolls Out Late-Night Entertainment Cover Product UK-100 R&SA Offers Insurance to Renewable Energy Sector UK-100 BUPA to Launch Space Insurance UK-100 Swiftcover to Launch a Mobile Phone Based Service UK-101 Norwich Union Introduces Innovative Life Insurance Coverage UK-101 Norwich Union Introduces New Online Motor Insurance Policy UK-101 Tesco to Provide Private Health Insurance UK-101 Norwich Union Introduces Guaranteed Whole Life Policy UK-101 MoreThan Provides Low-Cost Insurance to Young Motorists UK-101 Friends Provident Provides Tax Relief With New Life Cover UK-102 Swiftcover Expands Online Insurance Operations UK-102 Virgin Money Introduces Cancer Insurance UK-102 Prudential Launches PMI Policy UK-102 ADN Unveils Novel Insurance Services for UK Auto Dealership Market UK Product Launches in the Past UK-103 Western Provident Association Launches Flexible Health Plan UK-103 Norwich Union Launches Group PMI Product for Corporate Customers UK-103 Norwich Union Introduces Future Assured Plan UK-103 Norwich Union Releases Impaired Life Annuity Scheme UK-103 Medicash Introduces a Healthcare Cash Plan UK-104 Berkeley Alexander Unveils Individual Private Medical Insurance Plan UK-104 Liverpool Victoria Introduces New Product UK-104 AIG Europe Introduces Healthnow UK-104 SecureHealth Introduces Options UK-105 Royal & Sun Alliance European Life & Investments Launches Balanced Yield Fund UK-105 Norwich Union Introduces Improved Version of Long-Term Care

11 Insurance UK-105 Unum Launches Improved Elixia 123 UK-105 BITA Plus Consultants Launches Risk Analysis and Reporting Service UK-105 Hiscox Launches Online Service UK-105 Clerical Medical International Offers New Version of CMI Premier Bond UK-106 Profin Launches Miscellaneous E&O Policy UK-106 Franchised Auto Dealers from Royal & Sun Alliance UK-106 Willis Deploys War Risk Products UK-106 Zurich Life Launches New Whole-Of-Life Policy UK-107 Norwich Union Launches Garden Insurance Package UK-107 Liverpool Victoria Launches Comprehensive Mortgage Payment Protection Insurance Plan UK-107 Skandia Offers Two New Life Insurance Programs UK-107 MAP Underwriting Offers Insurance Coverage for Political Violence UK-107 Legal & General Launches New Protection Plans Under Protection Choices Brand Name UK-108 Royal & Sun Alliance Launches New Plan for Non-Resident UK Citizens UK-108 Royal & Sun Alliance Rewards Safe Drivers with More Than Plan UK-108 Canada Life International Adds New Features to Offshore Flexible Life Plan UK-108 BUPA International Adds Health Care Options to Insurance Policy UK-108 BUPA International Introduces Company First UK-108 Miller Insurance Group Offers Stand-Alone Terrorism Insurance UK st Century Launches Hospital Advantage Plan UK-109 Inreon Ltd. Launches EURO CAT UK-109 Skandia Introduces New Plans UK-109 Bank of Scotland Offshore Introduces Second Model of Save and Invest Product UK-109 AA Insurance Launches Online Customer Service Package UK-109 BUPA Creates Online Service for Complete Private Medical Insurance Cover UK-109 Standard Life Healthcare and Policy Master Together Offer Insurance Products UK Recent Industry Activity UK-111 Tawa Acquires Continental Management Services UK-111 Assurant Solutions Takes Over Centrepoint Insurance UK-111 THB to Acquire Lloyd s Broking Business and Overseas Interests of PWS UK-111 AIG Takes Over Direct Travel Insurance UK-111 AXA Acquires Davis Group UK-111 PHP Acquires Home Counties Healthcare s Medical Insurance Business UK-112 Pearl Assurance Acquires Resolution UK-112 Aviva Acquires Two Hamilton Companies and Forms New Agreements with HSBC UK-112 Assurant s UK Affiliate Takes Over Swansure Group UK-112 AXA & BMPS to Form a Strategic Partnership UK-112 AXA to Acquire Ukrainian Insurance Alliance UK-113 AXA to Divest Dutch Insurance Operations UK-113 HSBC Enters into Joint Venture with Aviva UK-113 AXA and UkrSibbank to Acquire Vesko UK-113 LV= Commences Brokerage Business UK-113 Genworth Partners with GMAC UK-113 Allianz Cornhill Collaborates with Game UK-114 Asda and LifeSearch Enter into Partnership UK-114 Aegon Scottish to Deploy Thinc s Distribution Platform UK-114 HSBC to Form JV with Norwich Union UK-114 Munich Re Acquires Bell & Clements UK-114

12 Aegon Enters into Distribution Pact with Dunfermline UK-114 Skandia to Consolidate UK Businesses UK-115 Allianz Cornhill Changes its Name to Allianz Insurance UK-115 LV= Forms Partnership with Help the Aged UK-115 Prudential and Discovery Forms JV UK-115 Norwich Union Outsources Administration to Swiss Re UK-115 AXA PPP Acquires Legal & General UK-115 AXA to Acquire Swiftcover UK-116 L&G and Nationwide Enters Distribution Pact UK-116 R&SA Bags New Contract UK-116 K Drewe and BIBA Enter into Collaboration UK-116 Prudential to Divest Egg UK-116 Equity and Nissan Forms Partnership UK-116 Standard Life and Summit to Offer Cover for Climbers UK-117 Alliance and Leicester Enters Car Insurance Business UK-117 IAG Acquires Equity UK-117 Beazley Snaps Up Santam Corporate UK-117 Resolution Life to Merge Life Insurance Businesses UK-117 Friends and Resolution Negotiate for a Prospective Merger UK-117 Bank of Georgia Merges BCI and Aldagi UK-117 Ariel Acquires Atrium UK-118 Enstar Group Buys Cavell Management UK-118 American International to Acquire Ocean Finance & Mortgages UK-118 CIGNA Acquires Vielife UK-118 Swiss Re bids for Prudential s Division UK-118 Liverpool Victoria Snaps Up ABC Insurance UK-118 Generali to Acquire Aviva UK-118 Abbey Exits Life Business UK-119 Axa to Takeover Thinc Destini UK-119 Lloyds TSB Acquires Pearl s General Insurance Business UK-119 Citibank to Collaborate with Legal & General to Offer Insurance UK-119 Barclays to Sell Standard Life s Insurance Products UK-119 CFS Forms a New Wing for General Insurance UK-119 AIG to Commence Bulk Annuity Operations in The UK UK-119 Asda and Scottish Widows End Alliance UK-120 Scottish Re to Secure a New Investment of $ 600 Million UK-120 Oxygen Holdings Completes Acquisition of Smart & Cook UK-120 Resolution Life Confirms Talks Related to Prospective Transactions UK-120 Royal & SunAlliance Plans Acquisition of Martello Underwriting UK-120 Allianz Cornhill and Argos Sign Agreement for Furniture Insurance UK-121 Towergate Snaps Up Paymentshield UK-121 Catlin To Acquire Wellington Underwriting UK-121 Bank of America to Divest Premium Credit UK-121 Berkshire Hathaway to Meet Liabilities of Lloyd UK-121 Reliance Mutual to Acquire University Life UK-122 Zurich to Acquire Endsleigh UK-122 Groupma to Allow Carole Nash to Function as a Distinct Entity UK-122 Swinton to Merge With its4me.co.uk to Boost Online Business UK-122 Swiss Re Acquires UK GE Life Business UK-123 Capita Life & Pensions Bags Contract from Scottish Life UK-123 Resolution Acquires Abbey National s Life Insurance Business UK-123 Royal Liver to Enter Guaranteed Critical-Illness Market UK-123 Aviva PLC Acquires RAC UK-123 Imagine Acquires Abacus UK-124 HCC Proposes to Buy IIG UK-124 Beazley Group Acquires OPCI UK-124 Merrill Lynch & Co to Acquire AMVESCAP Retirement, Inc. UK-124 CLI Acquires Axis USA UK-124 Health Lambert Group Sells Health Insurance Brokers UK-124 St. Paul Sells Cassidy Davis UK-124 American Physicians Acquires Minority Interest in Physicians

13 Insurance Co UK-124 British Union Purchases Amedex UK-124 Navigators Group Acquires Lloyds Syndicate 1221 UK-125 Resolution Life s Expansion Drive Continues UK-125 Sainsbury s Bank to Start Auto Insurance Business UK-125 Prestbury Holdings to Launch General Insurance UK-125 Benchmark Causes Vibes in Investment Property Insurance UK-125 Primary Acquires Benchmark Management UK-125 CDC to Purchase Saga Ltd UK-126 Willis Group Holdings Ltd. Acquires Vision Insurance Group UK-126 Arthur J Gallagher Acquires the Kooper Group UK-126 Marsh Acquires the Australian Operations of Heath Lambert Group UK-126 Capital Z Financial Services Acquires SBJ Group UK-126 Royal & Sun alliance Divests UK Life Insurance Business to Resolution Life Group UK-126 Crawley Warren Acquires International Space Brokers UK Strategic Developments in the Past UK-127 UPC Buys Sun Life s UK Operations UK-127 HCC Holdings Acquires Illium Insurance Group UK-127 Hilb Rogal & Hobbs Buy Alexander Brooks & Stevens Ltd UK-127 Norwich s Flood Risk Mapping Holds Immense Implications for the Industry UK-127 Gerling NCM Sets Shop in the UK UK-127 Primary Insurance Acquires UK Insurance s Third Party Business UK-128 Canada Life Acquires Disability and Life Insurance Operations of Royal & Sun Alliance Insurance UK-128 Earnest R Shaw Acquires Kendall White Millar UK-128 HSBC Group Acquires Stake in Ping An Insurance Co. UK-128 Aegon Acquires Stake in Wentworth Rose UK-128 Aegon Acquires Momentum UK-128 Aegon Acquires Advisory & Brokerage Services UK-129 Willis Group Increases Stake in Indonesian Subsidiary UK-129 Prudential Corp. Acquires ING Life Insurance UK-129 Amlin Purchases Renewal Rights from AIOI Insurance Co. of Europe UK-129 Scottish Annuity & Life Holdings Acquires World-Wide Reassurance UK-129 Heritage Underwriting Establishes Lloyd s Syndicate UK-129 GE Frankona Re Establishes New Aviation Unit UK-129 XL Capital Assurance Establishes New Subsidiary in the UK UK-130 Aviva and UniCredito Italiano Sign Partnership Agreement with BPCI UK-130 Aviva Signs Agreement with Unicredito Italiano UK-130 Cazenove Investment Fund Management and AIG Life in Agreement UK-130 Countrywide Assured Signs Agreement with Friends Provident UK-130 Royal & Sun Alliance Sells Offshore Life Operations UK-131 Jardine Lloyd Thompson Streamlines Business Operations UK-131 Axa Sun Life and Clerical Medical International Refocus Operations UK-131 Marks & Spencer Offers Pet Insurance UK-131 Standard Life s Stakeholder Pension Sales Slump UK-131 Royal & Sun Alliance Buys Loss Adjustment Unit of Independent Insurance UK-132 AXA Insurance Purchases Website of Independent Insurance UK-132 Liverpool Victoria Acquires Permanent Insurance from EquiTableLife UK-132 Prudential Acquires Orico Life Insurance UK-132 Eureko Purchases Foreign and Colonial Management Ltd. UK-132 CGNU Acquires ABN Amro Magyar Elet es Nyugdijbiztosito Reszvenytarsasag UK-132 CGNU Acquires Insurance Division of the Development Bank of Singapore UK-133 Vesta Insurance Group Acquires Instant Insurance Holdings and Aegis Financial UK-133

14 EW Blanch, Ben field Greig Group Merge to Form Ben field Blanch UK-133 Prudential Acquires YoungPoong Life UK-133 Royal Sun Alliance Acquires Seguros BBV UK-133 CPP Holdings Acquires Homecare Holdings UK-133 Ben field Group, SG Set up Celsius Insurance UK-133 Groupama Insurances Forms New Division UK-134 Prudential Divests General Insurance Business to Winterthur UK Focus on Select Players UK-135 Abbey National PLC UK-135 Allianz Corn hill UK-135 Amlin PLC UK-135 Aviva Plc - Fifth Largest Life Insurer in the World UK-135 Britannia Life UK-136 BUPA (British Union Provident Association) UK-136 Direct Line Plc UK-136 Ecclesiastical Insurance Group UK-136 Equity Insurance Group Limited UK-137 Groupama Insurances UK-137 Halifax Life. UK-137 Hiscox Ltd UK-137 Legal & General Group Plc UK-138 Lloyds of London UK-138 Lloyds TSB Group Plc UK-139 Lloyds TSB Life Assurance Company Limited UK-139 Markel International Ltd. UK-139 Nat West Life UK-139 NFU Mutual Insurance Co. UK-139 Prudential PLC UK-140 Royal & Sun Alliance Insurance Group UK-140 Scottish Widows plc UK-141 St. Paul International Insurance Co. Ltd. UK-141 St. Paul Travelers Insurance Company Limited UK-141 Standard Life PLC UK-141 The EquiTableLife Assurance Society UK-142 Leading Brokers in UK UK-142 HBOS PLC UK-142 Jardine Lloyd Thompson Group Plc UK-142 Willis Group Holdings Ltd., UK UK-142 Ordering: Order Online - Order by Fax - using the form below Order by Post - print the order form below and send to Research and Markets, Guinness Centre, Taylors Lane, Dublin 8, Ireland.

15 Page 1 of 2 Fax Order Form To place an order via fax simply print this form, fill in the information below and fax the completed form to (from USA) or (from Rest of World). If you have any questions please visit Order Information Please verify that the product information is correct and select the format(s) you require. Product Name: Web Address: Office Code: Insurance Industry in the United Kingdom - Global Strategic Business Report SC Product Formats Please select the product formats and quantity you require: Electronic (PDF) - Single User: Hard Copy: Electronic (PDF) Users: Electronic (PDF) Users: Electronic (PDF) Users: Quantity USD 3950 USD USD 57 Shipping/Handling USD 5530 USD 7505 USD 9480 * Shipping/Handling is only charged once per order. Contact Information Please enter all the information below in BLOCK CAPITALS Title: Mr Mrs Dr Miss Ms Prof First Name: Last Name: Address: * Job Title: Organisation: Address: City: Postal / Zip Code: Country: Phone Number: Fax Number: * Please refrain from using free accounts when ordering (e.g. Yahoo, Hotmail, AOL)

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