United Kingdom (UK) Life Insurance Market, Key Trends and Opportunities to 2025
The UK life insurance industry market size was valued at $178.71 billion in 2021. The market is expected to grow at a CAGR of more than 7% during 2020-2025.
The UK life insurance market research report provides in-depth market analysis, information, and insights into the UK life insurance segment. It provides values for key performance indicators such as gross written premium, insurance penetration, and premium ceded and cession rate during the review period and forecast period.
UK life insurance market outlook
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What are the key UK life insurance market trends?
The UK government announced plans to ban Russian firms from the UK’s aviation/space insurance market in response to the invasion of Ukraine. The decision will block Russian firms’ direct and indirect access to Lloyd’s and the London market, a key global player in these specialty areas. Gallagher Re, the global reinsurance broker, and BitSight, a global provider of cybersecurity ratings, partnered to integrate BitSight cybersecurity data with Gallagher Re’s insurance insights and analytics. The partnership shall help customers to benefit from a differentiated understanding of cyber risk compared with current modelling approaches.
What are the key lines of business in the life insurance market?
The key lines of business in life insurance market in the UK are pension, life and pension non-categorized, endowment, term life, life PA&H, other life insurance, and general annuity.
UK life insurance market, by lines of business
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What are the key distribution channel in the UK life insurance market?
The key distribution channels in the UK life insurance market are other distribution channels, direct marketing, agencies, and bancassurance. Other distribution channels held the largest share in the UK life insurance market.
UK life insurance market, by distribution channel
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Which are the major companies the UK life insurance market?
Some of the major companies in the UK life insurance market are Legal and General Assurance (Pensions Management) Limited, Legal and General Assurance Society Limited, Aviva Life & Pensions UK Limited, Scottish Widows Limited (United Kingdom), BlackRock Life Limited, St James’s Place UK plc, The Royal London Mutual Insurance Society Limited, Scottish Equitable Plc, Standard Life Assurance Limited(United Kingdom), and Rothesay Life Plc
UK life insurance market, by company
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Market Report Scope
| Market size (2021) | $178.71 billion |
| CAGR | >7% |
| Forecast period | 2021-2025 |
| Key lines of business | Pension, Life and Pension Non-Categorized, Endowment, Term Life, Life PA&H, Other Life Insurance, and General Annuity |
| Key distribution channels | Other Distribution Channels, Direct Marketing, Agencies, and Bancassurance |
| Key companies | Legal and General Assurance (Pensions Management) Limited, Legal and General Assurance Society Limited, Aviva Life & Pensions UK Limited, Scottish Widows Limited (United Kingdom), BlackRock Life Limited, St James’s Place UK plc, The Royal London Mutual Insurance Society Limited, Scottish Equitable Plc, Standard Life Assurance Limited (United Kingdom), and Rothesay Life Plc |
Scope
- This report provides a comprehensive analysis of the life insurance segment in the UK
- It provides historical values for the UK life insurance segment for the report’s 2016-2020 review period, and projected figures for the forecast period.
- It profiles the top life insurance companies in The UK and outlines the key regulations affecting them.
Reasons to Buy
- Make strategic business decisions using in-depth historic and forecast market data related to the UK life insurance segment.
- Understand the demand-side dynamics, key market trends and growth opportunities in the UK life insurance segment.
- Assess the competitive dynamics in the life insurance segment.
- Identify growth opportunities and market dynamics in key product categories.
Key Players
Table of Contents
Frequently Asked Questions
The life insurance market size in the UK was valued at $178.71 billion in 2021.
The life insurance market in the UK is expected to grow at a CAGR of more than 7% during the period 2020 and 2025.
Pension, life and pension non-categorized, endowment, term life, life PA&H, other life insurance, and general annuity are the key lines of business segments in the UK life insurance market.
Other distribution channels, direct marketing, agencies, and bancassurance are the key distribution channel segments in the UK life insurance market.
Legal and General Assurance (Pensions Management) Limited, Legal and General Assurance Society Limited, Aviva Life & Pensions UK Limited, Scottish Widows Limited (United Kingdom), BlackRock Life Limited, St James’s Place UK plc, The Royal London Mutual Insurance Society Limited, Scottish Equitable Plc, Standard Life Assurance Limited(United Kingdom), and Rothesay Life Plc are the major life insurance companies in the UK.
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