UK SME Insurance Market Competitor Dynamics 2018 Profiling Key Players like AXA, Aviva, Allianz, Direct Line, Zurich, Hiscox, RSA, NFU Mutual, Lloyds, LV, AA, Ageas, AIG, ACE, Barclays, Bupa

This report looks at which insurers lead the way in the SME segment and how they are developing their propositions. It also highlights how competitor positions vary between micro, small, and medium enterprises. It examines which insurers are winning over brokers and which companies SMEs are placing their business with.

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AXA and Aviva dominate the UK SME insurance space across all of the 10 non-vehicle-based commercial products listed in our 2018 UK SME Insurance Survey. However, the pair have slipped within the six motor lines, with Admiral and AA in particular establishing a strong presence at the top of these markets. Meanwhile Allianz recorded a strong performance in the liabilities lines but little impact in the vehicle-based lines. Hiscox and Zurich are liability specialists, although they have both seen their shares decline since 2017. Within the motor lines there is a clear trend of popular personal lines insurers also enjoying success in the SME market. This shows that established relationships are essential and easily transferred from personal to commercial lines.

Report Scope

- AXA's domination has declined slightly in terms of individual lines, but it still heads seven products.
- Third-placed Allianz remains over 5 percentage points behind Aviva, which highlights that the top two are still way ahead of other brands despite their declines. But this is offset by Allianz underwriting the products of Barclays, which is the fourth-largest player.
- AXA's position in the overall market is not replicated in brokers' preference for business placement, where Allianz and Aviva continue to top packaged and non-packaged respectively.

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This release was published on openPR.