Industry Statistics and Trends
Market size and recent performance (2014-2029)
Industry revenue has declined at a CAGR of 1.7 % over the past five years, to reach an estimated £72.9bn in 2024.
Trends and Insights
The containment of inflation in 2024-25 will aid profitability
- In the home insurance market, premiums are set to have jumped by 17% in 2023, according to EY, as insurers sought to mitigate the impact of major weather events, sustained high inflation and supply chain pressures, all of which ramped up claims costs.
- Additional trends and insights available with purchase
Source: Alfabank-Adres
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Climate change puts a storm on the horizon
- Calculations by the Association of British Insurers suggest industry losses related to annual weather conditions have increased fourfold over the past three decades.
Biggest companies in the General Insurance in the UK
| Company | Market Share (%)
2025 | Revenue (£m)
2025 |
|---|---|---|
Aviva plc | 7,058.9 | |
RSA Insurance Group Ltd | 2,772.9 | |
Allianz Holdings plc | 2,711.1 |
To view the market share and analysis for all 8 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: Alfabank-Adres
Industry revenue is measured across several distinct product and services lines, including Motor vehicle insurance, Accident and health insurance and Property insurance. Motor vehicle insurance is the largest segment of the General Insurance in the UK.
Trends and Insights
Motor vehicle insurance premiums rise at a slower rate as inflation eases
- Motor vehicle insurance covers the insured party for any loss incurred through damage to property or person as the result of a car accident, including theft.
- More insights available in the full report
Table of Contents
About this industry
Industry definition
Businesses in this industry underwrite insurance policies relating to property, casualty, liability and other general risks. The premiums they earn from this are then invested to generate additional income. Underwriting life and disability is a separate industry, although many firms compete in both insurance markets.
What's included in this industry?
Motor vehicle insurance Property insurance Accident and health insurancePecuniary loss insuranceGeneral liability insuranceHome-foreign risk insuranceMarine, aviation and transport insuranceCompanies
Aviva plcRSA Insurance Group LtdAllianz Holdings plcPurchase this report to view all 8 major companies in this industry.
Related Terms
GILTEBITSOLVENCY IIIndustry Code
SIC 65.12 - General Insurance in the UK
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Recovering financial markets lift revenue growth. The prospect of rate cuts and improving economic growth are set to drive capital markets, ramping up investment returns and ...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Motor vehicle and property insurance make up more than half of the market. The persistence of remote-working beyond the COVID-19 outbreak resulted in more time at home, suppo...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
London’s a global insurance hub. It’s the only city that all of the world’s top 20 insurers and reinsurers have offices in, making it a huge draw to general insurers seeking ...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each region
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each region in 2024
- Number and share of revenue each region accounts for in 2024
- Number and share of wages each region accounts for in 2024
- Number and share of employees in each region in 2024
Detailed analysis
- Geographic spread of the industry across Europe, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
A good reputation is key for insurance companies. Having a strong and well-recognised brand name that’s associated with quality service provision is likely to bring in more c...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Aviva aims to meet clients’ desire for convenience. It launched AvivaPlus at the end of 2018, offering an easy way for customers to find and renew their insurance policies an...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Aviva plc's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of RSA Insurance Group Ltd's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Allianz Holdings plc's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for 5 additional companies
Detailed analysis
- Description and key data for Aviva plc, and factors influencing its performance in the industry
- Description and key data for RSA Insurance Group Ltd, and factors influencing its performance in the industry
- Description and key data for Allianz Holdings plc, and factors influencing its performance in the industry
- Description, key data and performance trends for 5 additional companies
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
The UK replaces the EU’s Solvency II directive with its own version. Solvency UK is expected to reduce capital requirements for insurers, with the aim of promoting the indust...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Global events push up payouts and pick away at profit. Geopolitical tensions, fierce inflationary pressures, and aggressive rate hikes have clobbered investment returns in re...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Liquidity Ratios (2018-2022)
- Coverage Ratios (2018-2022)
- Leverage Ratios (2018-2022)
- Operating Ratios (2018-2022)
- Assets (2018-2022)
- Liabilities (2018-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Top Questions Answered
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the General Insurance in the UK industry in United Kingdom in 2024?
The market size of the General Insurance in the UK industry in United Kingdom is £72.9bn in 2024.
How many businesses are there in the General Insurance in the UK industry in 2024?
There are 338 businesses in the General Insurance in the UK industry in United Kingdom, which has grown at a CAGR of 1.7 % between 2019 and 2024.
Has the General Insurance in the UK industry in United Kingdom grown or declined over the past 5 years?
The market size of the General Insurance in the UK industry in United Kingdom has been declining at a CAGR of 1.7 % between 2019 and 2024.
What is the forecast growth of the General Insurance in the UK industry in United Kingdom over the next 5 years?
Over the next five years, the General Insurance in the UK industry in United Kingdom is expected to grow.
What are the biggest companies in the General Insurance in the UK market in United Kingdom?
The biggest companies operating in the General Insurance market in United Kingdom are Aviva plc, RSA Insurance Group Ltd and Allianz Holdings plc
What does the General Insurance in the UK in United Kingdom include?
Motor vehicle insurance and Property insurance are part of the General Insurance in the UK industry.
Which companies have the highest market share in the General Insurance in the UK in United Kingdom?
The company holding the most market share in United Kingdom is Aviva plc.
How competitive is the General Insurance in the UK industry in United Kingdom?
The level of competition is high and steady in the General Insurance in the UK industry in United Kingdom.
Related Industries
Widen your competitive advantage with related industries
Competitors
- There are no industries to display.
Complementors
- Life Insurance in the UK
- Reinsurance in the UK
- Insurance Agents & Brokers in the UK
- Dental Insurance in the UK
International industries
- Global Life & Health Insurance Carriers
- Global Direct General Insurance Carriers
- Health & Medical Insurance in the US
- Property, Casualty and Direct Insurance in the US
- Pet Insurance in the US
View all industries in United Kingdom
Methodology
How are Alfabank-Adres reports created?
Alfabank-Adres has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for Alfabank-Adres readers. Finally, each report is reviewed by one of Alfabank-Adres’s editors, who provide quality assurance to ensure accuracy and readability.
Alfabank-Adres relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do Alfabank-Adres analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the UK include:
- Office for National Statistics
- Office for Budget Responsibility
- Bank of England
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, Alfabank-Adres’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does Alfabank-Adres forecast its data?
Alfabank-Adres’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
Alfabank-Adres prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
