Non-Life Insurance in the United Kingdom
Summary
Non-Life Insurance in the United Kingdom industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value and volume 2018-23, and forecast to 2028). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- Non-life insurance is defined as any insurance not determined to be life insurance. It includes automobile and homeowners' policies and provides payments depending on the loss from a particular financial event. The market value is measured by the written premium generated by market players within a given year.
- The UK non-life insurance market recorded written premiums of $104.8 billion in 2023, representing a compound annual growth rate (CAGR) of 5.2% between 2018 and 2023.
- The motor segment accounted for the market's largest proportion in 2023, with total written premiums of $28.3 billion, equivalent to 27.0% of the market's overall value.
- The UK non-life insurance market is experiencing significant growth, driven by rising awareness of the importance of insurance in safeguarding assets and mitigating financial risks. Moreover, the growing elderly population is significantly boosting demand for health insurance policies, as aging individuals increasingly prioritize comprehensive coverage to manage rising medical expenses and long-term care needs. According to Eurostat, the population of individuals aged 65 and above in the UK stood at 13.0 million in 2023, an increase of 1.8% from the previous year.
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the non-life insurance market in the United Kingdom
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the non-life insurance market in the United Kingdom
- Leading company profiles reveal details of key non-life insurance market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the United Kingdom non-life insurance market with five year forecasts by both value and volume
- What was the size of the United Kingdom non-life insurance market by value in 2023?
- What will be the size of the United Kingdom non-life insurance market in 2028?
- What factors are affecting the strength of competition in the United Kingdom non-life insurance market?
- How has the market performed over the last five years?
- Who are the top competitors in the United Kingdom's non-life insurance market?
- 1 Executive Summary
- 1.1. Market value
- 1.2. Market value forecast
- 1.3. Category segmentation
- 1.4. Geography segmentation
- 1.5. Market share
- 1.6. Market rivalry
- 1.7. Competitive landscape
- 2 Market Overview
- 2.1. Market definition
- 2.2. Market analysis
- 3 Market Data
- 3.1. Market value
- 4 Market Segmentation
- 4.1. Category segmentation
- 4.2. Geography segmentation
- 5 Market Outlook
- 5.1. Market value forecast
- 6 Five Forces Analysis
- 6.1. Summary
- 6.2. Buyer power
- 6.3. Supplier power
- 6.4. New entrants
- 6.5. Threat of substitutes
- 6.6. Degree of rivalry
- 7 Competitive Landscape
- 7.1. Market share
- 7.2. Who are the leading players?
- 7.3. What are the strategies of the leading players?
- 7.4. What are the strengths of the leading players?
- 8 Company Profiles
- 8.1. Aviva Plc
- 8.2. Direct Line Insurance Group Plc
- 8.3. AXA SA
- 8.4. Admiral Group Plc
- 9 Macroeconomic Indicators
- 9.1. Country data
- 10 Appendix
- 10.1. Methodology
- 10.2. Industry associations
- 10.3. Related MarketLine research
- 10.4. About MarketLine
- List of Tables
- Table 1: United Kingdom non-life insurance market value: $ billion, 2018-23
- Table 2: United Kingdom non-life insurance market category segmentation: % share, by value, 2018-23
- Table 3: United Kingdom non-life insurance market category segmentation: $ billion, 2018-23
- Table 4: United Kingdom non-life insurance market geography segmentation: $ billion, 2023
- Table 5: United Kingdom non-life insurance market value forecast: $ billion, 2023-28
- Table 6: United Kingdom non-life insurance market share: % share, by value, 2023
- Table 7: Aviva Plc: Key Facts
- Table 8: Aviva Plc: Annual Financial Ratios
- Table 9: Aviva Plc: Key Employees
- Table 10: Aviva Plc: Key Employees Continued
- Table 11: Direct Line Insurance Group Plc: Key Facts
- Table 12: Direct Line Insurance Group Plc: Annual Financial Ratios
- Table 13: Direct Line Insurance Group Plc: Key Employees
- Table 14: AXA SA: Key Facts
- Table 15: AXA SA: Annual Financial Ratios
- Table 16: AXA SA: Key Employees
- Table 17: AXA SA: Key Employees Continued
- Table 18: Admiral Group Plc: Key Facts
- Table 19: Admiral Group Plc: Annual Financial Ratios
- Table 20: Admiral Group Plc: Key Employees
- Table 21: United Kingdom Size of Population (million), 2019-23
- Table 22: United Kingdom Real GDP (Constant 2010 Prices, $ Billion), 2019-23
- Table 23: United Kingdom GDP (Current Prices, $ Billion), 2019-23
- Table 24: United Kingdom Inflation, 2019-23
- Table 25: United Kingdom Consumer Price Index (Absolute), 2019-23
- Table 26: United Kingdom Exchange Rate, 2018-23
- List of Figures
- Figure 1: United Kingdom non-life insurance market value: $ billion, 2018-23
- Figure 2: United Kingdom non-life insurance market category segmentation: $ billion, 2018-23
- Figure 3: United Kingdom non-life insurance market geography segmentation: % share, by value, 2023
- Figure 4: United Kingdom non-life insurance market value forecast: $ billion, 2023-28
- Figure 5: Forces driving competition in the non-life insurance market in the United Kingdom, 2023
- Figure 6: Drivers of buyer power in the non-life insurance market in the United Kingdom, 2023
- Figure 7: Drivers of supplier power in the non-life insurance market in the United Kingdom, 2023
- Figure 8: Factors influencing the likelihood of new entrants in the non-life insurance market in the United Kingdom, 2023
- Figure 9: Factors influencing the threat of substitutes in the non-life insurance market in the United Kingdom, 2023
- Figure 10: Drivers of degree of rivalry in the non-life insurance market in the United Kingdom, 2023
- Figure 11: United Kingdom non-life insurance market share: % share, by value, 2023
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