Saturday, August 24, 2019

Analysis of Operation Situation and Competition of UK Insurance Essay

Analysis of Operation Situation and Competition of UK Insurance Industry - Essay Example These companies are Aviva Plc., Prudential Plc. and Royal and Sun Alliance Insurance Group. The first part of the paper includes PEST and Porter Five Forces analysis, while keeping in view the industry trends and environment. In addition to this, analysis of financial performance of the selected three insurance companies in UK has also been performed. This activity has been carried out with the help of ratio analysis; comparison of key financial indicators against closes competitors and industry standards. The next part of the paper consists of strategic analysis of the selected insurance businesses by utilizing Strengths, Weaknesses, Opportunities and Threat (SWOT) model. The SWOT model is considered to be helpful in determining what are the external factors and future prospects that might have an influence on the direction of the business. Additionally, the model also identifies the role of internal factors of a business that might result in effecting the performance of the busines s on strategic and financial grounds. After presenting these analyses, a discussion based on the findings from analysis has been presented, which provides the ratings for selected companies on the basis of their financial performance and SWOT analysis. The insurance industry has been chosen for this project looking at the importance of this industry in terms of its contribution to the economy of UK. The insurance industry has played a vital a vital role in covering the customers from the risks of investment, health and education, etc. This industry have been satisfied the customers in terms of their requirements of general insurance as well as life insurance. Due to the demand of these products in the market, the industry has registered a strong trend of sales and revenue earnings. According to Global Business Browser (2012), the value of UK insurance market increased by 2.6% to $319.7 billion in 2011, which makes

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