Summary Life Insurance in the United Kingdom industry profile provides top-line qualitative and quantitative summary information including: market size (value 2017-22, and forecast to 2027). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
The market is segmented into Life Insurance and Pension/Annuity.
The UK life insurance market had total gross written premiums of $247.3 billion in 2022, representing a compound annual growth rate (CAGR) of 2.8% between 2017 and 2022.
The life insurance segment accounted for the market's largest proportion in 2022, with total gross written premiums of $130 billion, equivalent to 52.6% of the market's overall value.
Life insurance coverage in the UK population is moderate. According to in-house research, in 2022, life insurance penetration (ratio of premiums to GDP) in the UK was 5%.
Scope
Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the life insurance market in the United Kingdom
Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the life insurance market in the United Kingdom
Leading company profiles reveal details of key 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 life insurance market with five year forecasts
Reasons to Buy
What was the size of the United Kingdom life insurance market by value in 2022?
What will be the size of the United Kingdom life insurance market in 2027?
What factors are affecting the strength of competition in the United Kingdom life insurance market?
How has the market performed over the last five years?
What are the main segments that make up the United Kingdom's 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 strategies do the leading players follow?
7.4. What has been the rationale behind recent M&A activity?
8 Company Profiles
8.1. Aviva Plc
8.2. Lloyds Banking Group Plc
8.3. American International Group Inc (AIG)
8.4. Zurich Insurance Group Ltd
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 life insurance market value: $ billion, 2017–22
Table 2: United Kingdom life insurance market category segmentation: % share, by value, 2017–2022
Table 3: United Kingdom life insurance market category segmentation: $ billion, 2017-2022
Table 4: United Kingdom life insurance market geography segmentation: $ billion, 2022
Table 5: United Kingdom life insurance market value forecast: $ billion, 2022–27
Table 6: United Kingdom life insurance market share: % share, by value, 2022
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: Lloyds Banking Group Plc: key facts
Table 12: Lloyds Banking Group Plc: Annual Financial Ratios
Table 13: Lloyds Banking Group Plc: Key Employees
Table 14: Lloyds Banking Group Plc: Key Employees Continued
Table 15: American International Group Inc (AIG): key facts
Table 16: American International Group Inc (AIG): Annual Financial Ratios
Table 17: American International Group Inc (AIG): Key Employees
Table 18: American International Group Inc (AIG): Key Employees Continued
Table 19: Zurich Insurance Group Ltd: key facts
Table 20: Zurich Insurance Group Ltd: Annual Financial Ratios
Table 21: Zurich Insurance Group Ltd: Key Employees
Table 22: Zurich Insurance Group Ltd: Key Employees Continued
Table 23: United Kingdom size of population (million), 2018–22
Table 24: United Kingdom gdp (constant 2005 prices, $ billion), 2018–22
Table 25: United Kingdom gdp (current prices, $ billion), 2018–22
Table 26: United Kingdom inflation, 2018–22
Table 27: United Kingdom consumer price index (absolute), 2018–22
Table 28: United Kingdom exchange rate, 2018–22
List of Figures
Figure 1: United Kingdom life insurance market value: $ billion, 2017–22
Figure 2: United Kingdom life insurance market category segmentation: $ billion, 2017-2022
Figure 3: United Kingdom life insurance market geography segmentation: % share, by value, 2022
Figure 4: United Kingdom life insurance market value forecast: $ billion, 2022–27
Figure 5: Forces driving competition in the life insurance market in the United Kingdom, 2022
Figure 6: Drivers of buyer power in the life insurance market in the United Kingdom, 2022
Figure 7: Drivers of supplier power in the life insurance market in the United Kingdom, 2022
Figure 8: Factors influencing the likelihood of new entrants in the life insurance market in the United Kingdom, 2022
Figure 9: Factors influencing the threat of substitutes in the life insurance market in the United Kingdom, 2022
Figure 10: Drivers of degree of rivalry in the life insurance market in the United Kingdom, 2022
Figure 11: United Kingdom life insurance market share: % share, by value, 2022