Personal Accident and Health Insurance in the UK, Key Trends and Opportunities to 2018

Date: 2015-09

The UK personal accident and health insurance segment registered as the fastest growing in the industry, with a review-period (2009โ€“2013) compound annual growth rate (CAGR) of 3.8%, despite low individual investments and consumer confidence levels as a result of the financial and debt crisis. The segment accounted for 3.4% of the total gross written premiums in 2013. Growth was partly attributed to an increase in outbound travel, rising healthcare expenditure, economic improvements and perceived inadequacies in the government-funded universal healthcare scheme, and growing awareness of the benefits of personal accident and health insurance. These factors, coupled with the rise in per capita annual disposable income and the aging population, are expected to support the segment over the forecast period (2013โ€“2018). As such, the segmentโ€™s gross written premium is projected to increase at a forecast-period CAGR of 2.3%.

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