News


02

Sep 2019

Insurance Consumer and BTE Insurance Reports Launched

IRN Research launched two new, shorter insurance consumer research reports: Insurance Consumer Before-the-Event Legal Expense Insurance Insurance Consumer report Insurance Consumers spend £25 billion on general insurance In 2018, UK consumers are estimated by IRN Research to have spent around £25 billion on general insurance premiums, rising to around £26 billion in 2016. Virtually all consumers (92%) own at least one type of general insurance...

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01

Sep 2019

First-Time Buyers Borrow almost £60 billion in 2018

First-Time Buyer Mortgage market continues to grow.. The First Time Buyers Market Trends Report 2019, the second edition of IRN’s First-Time Buyer Market Trends Report, finds that in 2018,  First-Time Buyers (FTBs) borrowed almost £60 billion to purchase their first homes, 4.4% more than in 2017. In 2018, the number of advances rose by 1.9%.  In 2019, IRN Research estimates the value of FTB mortgage advances...

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12

Aug 2019

New Pet Insurance Report Launched

Only 46% of pet owners have pet insurance  25% of all consumers own pet insurance, while almost half of consumers own a pet, resulting in just under half of pet owners (46%) owning pet insurance. Insurance ownership is significantly higher if the consumer owns a dog or a pedigree cat, because pedigree breeds traditionally have more health problems compared with their mixed breed counterparts. Owners...

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05

Aug 2019

New Travel Insurance Report Launched

 35 million covered by travel insurance 34.6 million consumers (or 54% of all adults) have multi-trip travel insurance now or have had single trip insurance cover over the past year. Of these individuals, 29.1 million own standalone, separate travel insurance policies (i.e. they are not bundled into packaged bank accounts or other insurances). Single trip insurance (40% of consumers) is more popular than multi-trip insurance...

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29

Jul 2019

Latest Annual Residential Conveyancing Market Trends Report Published

Optimism dips in the residential conveyancing market- the roller coaster continues  The UK Conveyancing Market Trends Report 2019 provides an overview of the UK conveyancing market which is facing a period of uncertainty in the next few years. In 2018 as in 2017, IRN Research estimate that the residential conveyancing market declined as the number of property transactions and the number of individuals using conveyancing...

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18

Jul 2019

New Mobile Phone Insurance Report Launched

Over 10 million consumers covered by mobile phone insurance Around eight-in-ten consumers own a mobile phone used for personal purposes and around one-quarter of mobile owners are covered by mobile phone insurance. This means that just over 10 million adults are covered by a mobile phone insurance policy. Around half of insured mobile owners own a separate/standalone policy, with just under one half saying their...

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10

Jul 2019

Motor Breakdown Report Launched

Motor Breakdown Market worth £1.8 billion and covers almost half of adults Almost half of consumers (46%) own a motor breakdown policy, which means almost six-in-ten drivers (58%) have breakdown cover. The motor breakdown market is worth almost £1.8 billion, of which 76% represents the consumer market.  IRN Research anticipate the market will grow, on average, by around 2.4% each year, so that by 2023...

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27

Jun 2019

Home Insurance Consumer Research Report Launched

Three quarters of households have home insurance Seven-in-ten adults own any type of home insurance, with the result that around three-quarters (77%) of householders have insurance cover and around one-quarter go without cover. Like home ownership, the tendency to own insurance tends to rise with age and affluence. Uninsured Householders tend to be relatively young consumers and include a relatively high percentage of adults from...

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17

Jun 2019

New Motor Insurance Report – Nine-in-ten Drivers Have Insurance

89% of Drivers have Motor Insurance Around 80% of consumers are Drivers, defined as individuals who either own a car or have use of a car owned by someone else. Only around nine-in-ten Drivers (89%) have motor insurance, with uninsured Drivers representing those who are driving illegally without insurance, those whose cars have SORN status, children whose insurance may be fronted by their parents and...

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10

Jun 2019

UK Business Law Market Report – steady growth but competition intensifies

UK-based business law firms and chambers generated revenues of around £16bn in 2018, an increase of 4.1% on 2017. Some of this revenue comes from overseas work and the UK market itself is worth between £11bn and £12bn. Despite steady revenue growth in recent years, the business legal services market is an increasingly competitive one. Many clients of law firms have become competitors as well...

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