United Kingdom (UK) General Insurance Market Essentials (Personal and Commercial Lines) - Analyzing Gross Written Premiums (GWP), Growth Potential and Product Distribution
Summary
This report gives a brief overview of both personal and commercial lines in the UK general insurance market. In the personal lines, this includes private motor, household, travel, and pet. In the commercial lines, this includes commercial motor, commercial property, and employers’ liability. The report presents some underlying drivers of gross written premiums (GWP) in these markets, as well as areas for future growth. The report goes on to discuss product distribution within both segments of the market.
The UK general insurance market is estimated to have experienced growth of 2.0% in 2022, with both personal and commercial lines growing by 0.7% and 3.4%, respectively.
Scope
- The total UK general insurance market grew by 2.0% in 2022.
- The total personal insurance market increased by 0.7% in 2022, rising to GBP28.41 billion in GWP.
- The total commercial lines market experienced a 3.4% growth in GWP in 2022, rising to GBP27.51 billion.
- The direct channel is expected to increase its share of distribution in personal lines to 49.5% by 2027f.
- Understand how certain core markets in the UK general insurance market are expected to have performed in 2022.
- Ascertain how underlying factors and drivers in these markets will shape them going forward.
- Explore the future market shares in the distribution of both commercial and personal lines to 2027f.
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