United Kingdom (UK) SME Insurance: Market Dynamics and Opportunities 2025
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This report looks at the state of the UK SME insurance market, sizes the market, and forecasts future GWP until 2029. It analyzes the macroeconomic factors that impact the market, while using GlobalData's UK SME Insurance Survey to discover and analyze SMEs’ attitudes to insurance, as well as the key factors that will impact the market now and in the future.
The UK SME insurance sector generated a projected GBP19 billion in gross written premium (GWP) in 2024. This upward trend was set to continue into 2025. A key driver of GWP growth is the increase in premiums, particularly in the areas of cyber insurance, business interruption, and property insurance. Insurers have responded to inflationary pressures and global supply chain challenges by adjusting their premiums to account for these increased costs.
Scope
The number of SMEs in the UK decreased marginally in 2024.
The cost-of-living crisis/ongoing inflation is SMEs’ biggest concern.
SMEs stated that insurance premiums increased at renewal.
Key Highlights
- Learn about the significance of SMEs within the commercial insurance market and how they are influenced by the UK economy.
- Identify the effects of the cost-of-living crisis on the UK SME insurance space.
- Discover GlobalData’s forecasts for the market.
- Recognize the challenges faced by UK SMEs.
- Identify growth opportunities in the SME market.
Reasons to Buy
Learn about the significance of SMEs within the commercial insurance market and how they are influenced by the UK economy.
Identify the effects of the cost-of-living crisis on the UK SME insurance space, as well as other challenges faced by SMEs.
Discover GlobalData’s forecasts for the UK SME insurance market.
Identify growth opportunities in the SME space.
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