Global UK SME insurance Market business (personal liability, cyber insurance, cargo insurance, property insurance, public liability insurance), Top key players are AXA, Aviva, NFU Mutual, Allianz, Direct Line, Hiscox, Zurich, AA

Global UK SME insurance Market Size study, by line of business (personal liability, cyber insurance, cargo insurance, property insurance, public liability insurance), by number of employees (insurance for 1-9 employees, insurance for 10-49, insurance for 50-249), by distribution channel (agency, broker, direct writing), and by Regional Forecasts 2017-2025

Global UK SME insurance Market valued approximately USD XXX billion in 2016 is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2017-2025. Key factors which gives growth to the UK SME insurance market are With insurers increasingly seeking to grow their share of the SME market competition, farther advances in technology have allowed for products to become more specialized, allowing for niche markets to be targeted more accurately. Brokers have remained the most used channel when purchasing insurance, yet their share of the SME market has decreased significantly in 2017 according to the results of our 2017 UK SME Insurance Survey.

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

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Some of the key players operating in this market include AXA, Aviva, NFU Mutual, Allianz, Direct Line, Hiscox, Zurich, AA

"UK SME Insurance: Market Dynamics and Opportunities 2017", analyzes the UK SME insurance market. Economic factors including GDP growth, SME business confidence, and unemployment rates are explored in relation to the UK’s business landscape. Growth in the number of SMEs is explored by business size and industry. The SME market is discussed in relation to uptake of commercial insurance. Finally an estimate of current and historic market size is provided, in addition to a future forecast.

The UK SME insurance market was estimated to be worth £6.4bn in GWP in 2016, after falling from £7.0bn in 2015. The sharp fall in 2016 was caused by reduced average insurance spend across all sizes of SMEs, which outweighed the slight increase in companies registered in these categories. The impact of trends in the five to nine employee group of SMEs was particularly significant, as it has both high insurance penetration (94.2%) and a high volume of businesses, meaning a decline in spending reported through our 2017 SME Insurance Survey had a major impact on the overall size of the market.

Scope

- Micro businesses account for 95.5% of UK private sector enterprises and 18.6% of generated turnover.

- 40.0% of SMEs are concerned about the fallout from Brexit, with the possibility of poorer economic conditions the key factor.

- The UK SME insurance market is forecast to be worth £7.66bn in 2020.

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