Income Protection and Critical Illness Insurance in the UK, Key Trends and Opportunities to 2018

Income Protection and Critical Illness Insurance in the UK, Key Trends and Opportunities to 2018

Table of Contents

1 Executive Summary

2 Introduction
2.1 What is this Report About?
2.2 Definitions
2.3 Methodology

3 Market Analysis
3.1 Market Size
3.1.1 Income protection and critical illness insurance, new business premiums by category
3.1.2 Income protection and critical illness insurance, new business premiums by product type
3.1.3 Income protection and critical illness insurance, regular and single new business premiums
3.2 Income Protection Insurance
3.2.1 Income protection insurance, individual and group new business premiums
3.3 Critical Illness Insurance
3.3.1 Critical illness insurance, individual and group new business premiums
3.3.2 Individual critical illness insurance, accelerated and standalone new business premiums
3.4 UK Long-Term Protection Market, New Regular Business Premiums by Category
3.5 The Number of IP and CI Product Sales
3.5.1 Individual IP and CI sales
3.5.2 Group protection sales
3.6 Claims
3.6.1 Claims outlook
3.7 Market Drivers
3.8 Market Outlook
3.9 Distribution Channels

4 Competitive Landscape
4.1 Review – The Best Performers of 2013
4.2 Income Protection and Critical Illness Insurance – SWOT Analysis
4.3 Product Innovation
4.3.1 News

5 Deals and News
5.1 Legal and General Revealed 60% of Claims are Cancer-Related
5.2 AIG Completes Purchase of Ageas Protect
5.3 ABI Publishes Updated Statement of Best Practice for CI Insurance
5.4 Aviva and Friends Life Agree Terms for GBP5.6 billion deal
5.5 Seven Families Campaign Begins
5.6 Lloyds Cuts Protection Advice Ahead of Intermediary Launch
5.7 Protection Surge Mitigates Aviva Annuity Attrition
5.8 TSB Bank Signs Protection Deal with Legal and General

6 Regulation and Compliance
6.1 Regulatory Changes
6.1.1 Compulsory retirement at age 65 abolished
6.1.2 Risk selection by gender has been outlawed
6.1.3 Retail Distribution Review (RDR)
6.1.4 Auto-enrolment
6.1.5 The Welfare Reform Act 2012
6.1.6 End of percentage threshold scheme
6.1.7 The Mortgage Market Review
6.1.8 Solvency II

7 Economic Backdrop
7.1 Real GDP Growth
7.2 Demographics
7.3 Labor Market
7.4 Housing and Mortgage Market
7.5 Employment and Support Allowance and Incapacity Benefits Claimants
7.6 GDP per Capita and Household Disposable Income

8 Company Profiles
8.1 Ageas UK Ltd – Company Overview
8.1.1 Ageas UK Ltd – key facts
8.1.2 Ageas UK Ltd – main products
8.1.3 Ageas UK Ltd – main competitors
8.1.4 Ageas UK Ltd – 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 Canada Life Ltd – Company Overview
8.3.1 Canada Life Ltd – key facts
8.3.2 Canada Life Ltd – main products
8.3.3 Canada Life Ltd – main competitors
8.3.4 Canada Life Ltd – key employees
8.4 Friends Life Group Ltd – 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 & General Group Plc – Company Overview
8.5.1 Legal & General Group Plc – key facts
8.5.2 Legal & General Group Plc – main products
8.5.3 Legal & General Group Plc – main competitors
8.5.4 Legal & General Group Plc – 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 Plc – Company Overview
8.7.1 Lloyds Banking Group Plc – key facts
8.7.2 Lloyds Banking Group Plc – main products
8.7.3 Lloyds Banking Group Plc – main competitors
8.7.4 Lloyds Banking Group PLC – key employees
8.8 Partnership Assurance Group Plc – Company Overview
8.8.1 Partnership Assurance Group Plc – key facts
8.8.2 Partnership Assurance Group Plc – main products
8.8.3 Partnership Assurance Group Plc – main competitors
8.8.4 Partnership Assurance Group Plc – key employees
8.9 The Royal London Group – Company Overview
8.9.1 The Royal London Group – key facts
8.9.2 The Royal London Group – main products
8.9.3 The Royal London Group – main competitors
8.9.4 The Royal London Group – key employees
8.10 Unum Ltd – Company Overview
8.10.1 Unum Ltd – key facts
8.10.2 Unum Ltd – main products
8.10.3 Unum Ltd – main competitors
8.10.4 Unum Ltd – key employees

9 Statistics
9.1 Review Period: 2009–2013
9.2 Forecast Period: 2014–2018

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: UK Pure Protection and Mortgage Sales, April 2005–March 2014
Table 3: UK Group Risk Sales, 2009–2013
Table 4: ABI Individual Protection Claims Data, 2013
Table 5: First-Time Buyers, Number of Loans and Value of Loans (GBP Million), January 2014–November 2014
Table 6: UK Income Protection and Critical Illness Insurance – SWOT Analysis
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: Canada Life Ltd – Key Facts
Table 14: Canada Life Ltd – Main Products
Table 15: Canada Life Ltd – Key Employees
Table 16: Friends Life Group Plc – Key Facts
Table 17: Friends Life Group Plc – Main Products
Table 18: Friends Life Group Plc – Key Employees
Table 19: Legal & General Group Plc – Key Facts
Table 20: Legal & General Group Plc – Main Products
Table 21: Legal & General Group Plc – Key Employees
Table 22: Liverpool Victoria Group – Key Facts
Table 23: Liverpool Victoria Group – Main Products
Table 24: Liverpool Victoria Group – Key Employees
Table 25: Lloyds Banking Group Plc – Key Facts
Table 26: Lloyds Banking Group Plc – Main Products
Table 27: Lloyds Banking Group Plc – Key Employees
Table 28: Partnership Assurance Group Plc – Key Facts
Table 29: Partnership Assurance Group Plc – Main Products
Table 30: Partnership Assurance Group Plc – Key Employees
Table 31: The Royal London Group – Key Facts
Table 32: The Royal London Group – Main Products
Table 33: The Royal London Group – Key Employees
Table 34: Unum Ltd – Key Facts
Table 35: Unum Ltd – Main Products
Table 36: Unum Ltd – Key Employees
Table 37: UK IP and CI Insurance – Historical Statistics (GBP Thousand), 2009–2013
Table 38: UK IP and CI Insurance – Forecast Statistics (GBP Thousand), 2014–2018

List of Figures

Figure 1: UK TermFigure 1: UK Income Protection and Critical Illness Insurance – Total New Business Premiums (GBP Million), 2009–2013
Figure 2: UK Income Protection and Critical Illness Insurance – New Business Premiums by Category (GBP Million), 2009?2013
Figure 3: UK Income Protection and Critical Illness Insurance – New Business Premiums by Product Type (GBP Million), 2009?2013
Figure 4: UK Income Protection and Critical Illness Insurance – Regular and Single New Business Premiums (GBP Million), 2009?2013
Figure 5: UK Income Protection Insurance – Total New Business Premiums (GBP Million), 2009?2013
Figure 6: UK Income Protection Insurance – Individual and Group New Business Premiums (GBP Million), 2009?2013
Figure 7: UK Critical Illness Insurance – Total New Business Premiums (GBP Million), 2009?2013
Figure 8: UK Critical Illness Insurance – Individual and Group New Business Premiums (GBP Million), 2009?2013
Figure 9: UK Individual Critical Illness Insurance – Accelerated and Standalone New Business Premiums (GBP Million), 2009?2013
Figure 10: UK Long-Term Protection Market – Total New Regular Business Premiums by Category (GBP Thousand), 2009–2013
Figure 11: UK Pure Protection Product Sales, by Product Type (Thousands), 2005 Q2–2014 Q1
Figure 12: UK Sales of IP and CI Products and Mortgages (Thousands), 2005 Q2–2014 Q1
Figure 13: UK Estimated Number of People Living With Cancer, 2010–2030
Figure 14: Number of Days Lost Due to Sickness (Millions) and Average Number of Days Lost Due to Sickness per Worker, 1993–2013
Figure 15: UK Income Protection and Critical Illness Insurance – Total New Business Premiums (GBP Million), 2014–2018
Figure 16: UK Income Protection and Critical Illness Insurance Growth Dynamics by Category (%), 2009–2018
Figure 17: UK Type of Selling Firm Across Protection Products (Thousands), April 2013–March 2014
Figure 18: UK Market Shares of the Top 10 IP and CI Insurance Providers (%), 2013
Figure 19: The UK’s Insurance Regulatory Framework
Figure 20: UK Real GDP (Billion) and Quarter-on-Quarter Growth (%), 2007–2014
Figure 21: UK Growing and Aging Population (Years), 1995–2013
Figure 22: UK Population Aged Over 65 Years (%), 2007–2018
Figure 23: UK Overall Life Expectancy (Years), 1995–2018
Figure 24: UK Employment and Unemployment Rates (%), 2006–2014
Figure 25: UK Average Earnings and CPI Annual Growth Rates (%), 2007–2014
Figure 26: UK Annual House Prices – Rate of Change, All Dwellings (%), January 2004–November 2014
Figure 27: UK Number of First-Time Homebuyers (Thousands), 2002–2014
Figure 28: UK Gross Mortgage Lending (GBP Million), 2002–2016
Figure 29: UK Working-Age ESA and IB Claimants (Thousands), February 2005–November 2014
Figure 30: UK Improving Living Standards (GBP), 1997–2013

• Clinical Results in Diabetics To Be Boosted By Smart Artificial Beta Cells

For a long time, the cure for diabetes type 1 and type 2 has relied on agonizing insulin shots for patients or insulin infusion via mechanical pumps. Regarding this, experts have been creating artificial pancreatic beta cells with the he…

• High-speed Data Transmission And High Volume Needs Propel Fiber Optic Connectors Market

Fiber optic connectors are a substantial fragment of the global telecommunication industry. Optical fibers are joined using fiber optic connectors, which allow the light conduction between two consecutive optical fibers. An additional im…

• Extensive Use of Digital Technologies for Diagnostic Applications To Boost Global Optical Imaging Market

The global optical imaging system market is predicted to reach US$ 3 billion by 2024. It is expected to grow at a stable rate and will post a CAGR of more than 8% in the coming years. The growing market infiltration of digital …

• Foremost Trends In Global Pet Care Market

The global pet care market is foretold to improve in the forthcoming years as matched to the preceding years and will showcase better sales in various market segments. It is estimated that the global pet care market will grow at a CAGR o…

• China To Review Its Food Security Laws

China has arisen as the globe’s firmest developing economy. In addition, China brags about the biggest population pool in the world. In recent times, the one child policy in the republic was terminated. This is anticipated to upsur…

Global Health Insurance Market Growth (Status and Outlook) 2024-2030

Published: 04-Jan-2024        Price: US 3660 Onwards        Pages: 88

According to our LPI (LP Information) latest study, the global Health Insurance market size was valued at US$ 27280 million in 2023. With growing demand in downstream market, the Health Insurance is forecast to a readjusted size of US$ 140250 million by 2030 with a CAGR of 26.3% during review period. The research report highlights the growth potential of the global Health Insurance market. Health Insurance are expected to show stable growth in the future market. However, product differen......

Global Health Insurance Market Status and Outlook 2023-2028

Published: 03-Nov-2023        Price: US 3160 Onwards        Pages: 104

Health insurance is a type of insurance coverage that typically pays for medical, surgical, prescription drug and sometimes dental expenses incurred by the insured. Health insurance can reimburse the insured for expenses incurred from illness or injury, or pay the care provider directly. Our market research experts provide qualitative and quantitative analysis of the market based on involving economic and non-economic factors in the same report with market value (million USD) data for eac......

Global Health Insurance Industry Research Report, In-depth Analysis of Current Status and Outlook of Key Countries 2023-2028

Published: 22-Aug-2023        Price: US 3380 Onwards        Pages: 101

Market Overview of Global Health Insurance market: According to our latest research, the global Health Insurance market looks promising in the next 5 years. As of 2022, the global Health Insurance market was estimated at USD XX million, and it's anticipated to reach USD XX million in 2028, with a CAGR of XX% during the forecast years. Health insurance is insurance that covers the whole or a part of the risk of a person incurring medical expenses, spreading the risk over a lar......

Global Health Insurance Market Insights: Impact of COVID-19 and Future Expectations to 2028

Published: 15-Jun-2023        Price: US 3260 Onwards        Pages: 98

The Health Insurance market revenue was XX Million USD in 2022, and will reach XX Million USD in 2028, with a CAGR of XX% during 2022-2028. This report elaborates the market size, market characteristics, and market growth of the Health Insurance industry, and breaks down according to the type, application, and consumption area of Health Insurance. The report also introduces players in the industry from the perspective of the industry chain and marketing chain and describes the lea......

Health Insurance Market, Global Outlook and Forecast 2023-2029

Published: 12-Jan-2023        Price: US 3250 Onwards        Pages: 69

Health insurance is a means for financing a person's health care expenses. While the majority of people have private health insurance, primarily through an employer, many others obtain coverage through programs offered by the government. Other individuals do not have health insurance at all. Health insurance is a type of insurance coverage that covers the cost of an insured individual's medical and surgical expenses. Depending on the type of health insurance coverage, either the ins......

Global Health Insurance Market Growth (Status and Outlook) 2023-2029

Published: 04-Jan-2023        Price: US 3660 Onwards        Pages: 87

Health insurance is a means for financing a person's health care expenses. While the majority of people have private health insurance, primarily through an employer, many others obtain coverage through programs offered by the government. Other individuals do not have health insurance at all. Health insurance is a type of insurance coverage that covers the cost of an insured individual's medical and surgical expenses. Depending on the type of health insurance coverage, either the ins......

Global Health Insurance Sales Market Report 2023

Published: 04-Jan-2023        Price: US 4000 Onwards        Pages: 105

The global Health Insurance market is segmented by company, region (country), by Type and by Application. Players, stakeholders, and other participants in the global Health Insurance market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on sales, revenue and forecast by region (country), by Type and by Application for the period 2018-2029. Segment by Type - Insured Liability - Payment Method ......

Global Health Insurance Market Research Report 2022 - Market Size, Current Insights and Development Trends

Published: 29-Sep-2022        Price: US 3450 Onwards        Pages: 118

The report focuses on the Health Insurance market size, segment size (mainly covering product type, application, and geography), competitor landscape, recent status, and development trends. Furthermore, the report provides strategies for companies to overcome threats posed by COVID-19. Technological innovation and advancement will further optimize the performance of the product, enabling it to acquire a wider range of applications in the downstream market. Moreover......

Global Health Insurance Market Size, Manufacturers, Supply Chain, Sales Channel and Clients, 2022-2028

Published: 12-Sep-2022        Price: US 5900 Onwards        Pages: 102

Health insurance is a means for financing a person's health care expenses. While the majority of people have private health insurance, primarily through an employer, many others obtain coverage through programs offered by the government. Other individuals do not have health insurance at all. Health insurance is a type of insurance coverage that covers the cost of an insured individual's medical and surgical expenses. Depending on the type of health insurance coverage, either the i......

We believe in "optimum utilization of available budget and resources". While servicing our clients' (your) market research requirements, we keep the same approach in focus to help you get the best value for your $$s. Ranging from the smallest feasible / required data (datasheets, data facts, SWOT analysis, company profiles, etc) to full research reports that help you make decisions, our inventory is updated almost on a daily basis with the latest industry reports from domain experts that track more than 5000 niche sectors. Need a custom research report on medical devices market? Require all available business intelligence on 3D printing industry? Exploring F&B sector of a particular country/region? RnRMarketResearch.com is your one-stop-solution to all market intelligence needs. We not only offer custom research and consulting services, we also "bundle" reports to meet your needs and help you fetch the data analysis you require for your business. Not limited to only "finding" relevant reports for you, our client engagement team dedicates its efforts to understand your "business need" and accordingly maps available research data to help you move forward. Call "your" client engagement executive any time of your day and get your questions answered in order to make the correct business decision. Simply share your research requirement details with us and let us do all the hard work to find required intelligence for you. When you add up our "one stop solution" and "dedicated client engagement" services mentioned above, you obviously know the time and effort saving you do by working with us. Working with Fortune 500 organizations, we understand the importance of being flexible for payments. Share your payment terms with us and we will surely match up to them to ensure you get access to required business intelligence data without having to wait for the payment to be done. Have questions after reading a report / datasheet bought through us? Not sure about the methodology used for data available in the research? Talk to us / Share your questions with us and if required, we will connect you with the analyst(s)/author(s) of the report(s) and ensure you get satisfactory answers for the same. Need more data / analysis / report(s) on the topic of your research/project? The RnRMarketResearch.com team is here for you 24X7 to support you with your post-purchase requirements. Subscription Offers & Packages (Get in touch with us for more details - [email protected] / +1 888 391 5441 )

• Ad Hoc
• Pay - as - you - go / Bucket Subscriptions
• Fixed Cost for #of reports
• Customize / Personalize as per your needs