The United Kingdom Home Insurance Market Report is Segmented by Coverage (Building Insurance, Contents Insurance, and Combined Building and Contents Insurance), by Distribution Channel (Direct, Brokers/Agents, Banks, and Others), and by Type (New and Renewal). The Report Offers Market Size and Forecasts for United Kingdom Home Insurance in Value (USD) for all the Above Segments.

It is estimated that in the United Kingdom (UK), the number of new policies (B2C) in the property insurance industry will have decreased by approximately one million policies between 2018 and 2024.Statista estimates that the share of new policies that will be taken out online between 2018 and 2024 will increase as more individuals take advantage of online comparison sites to find the best deal. To learn more about the future of the B2C digital insurance industry in the UK, read our in-depth report.

During the observation period, the market share of the United Kingdom's (UK) property insurance market has been growing. In 2020, the UK accounted for nearly one quarter of the European property insurance market in terms of gross direct property premiums written.

Insurance density is calculated as the ratio of gross written premiums to total population and indicates the development of the sector. In the recent years, the property insurance density in the United Kingdom (UK) increased, reaching 375 euros in property insurance premiums per capita in 2020. In comparison with 2007, when the lowest value was recorded, the insurance density was 225 euros.

During the period under observation, the number of property insurance claims notified in the United Kingdom (UK) has seen a year-on-year decrease. In 2017, the UK property insurance companies operating on the domestic market received 1.23 million claims which was almost half of the claims notified in 2013.

Since 2015, the amount of property insurance claims paid in the United Kingdom (UK) has seen a year on-year increase. In 2020, property insurance companies operating on the domestic market paid more than 20 billion euros in claims, which was almost 13 billion euros more compared to 2015.

"UK Household Insurance: Market Dynamics and Opportunities 2018", report provides an in-depth analysis of the UK household insurance market. It looks at market size and performance ratios as well as changes in premiums, claims, contextual and economic factors, regulations, and opportunities. It provides a thorough overview of the market along with future forecasts and analysis of emerging technologies and products. Read More

From 2008 to 2020, the value of gross written property insurance premiums in the United Kingdom (UK) saw a year-on-year increase, reaching its highest value of approximately 25.1 billion euros in 2020. In comparison, in 2008 which was the year with the lowest value reported, the property insurance companies in the UK conducted almost 13.24 billion euros in gross written premiums, over ten billion less.

"UK Non-Standard Home Insurance 2017", explores consumer purchasing behavior, brand selection, and market opportunities across eight different segments of the non-standard household insurance space, including houses with thatched roofs and subsidence, as well as individuals with criminal convictions and poor claims records. Read More

Wealthy individuals require specialist mid net worth (MNW) and high net worth (HNW) insurance policies that offer wider coverage, higher limits, and better service compared to standard products. This is due to the higher value of their assets, which may include multiple homes, luxury cars, yachts, antiques, jewelry, wine, and fine art. Home insurance is generally provided on a global all-risk cover basis, often with an element of legal protection and travel insurance to which motor insurance can be additionally added. The market is forecast to grow as the number of affluents in the UK increases. Insurers are trying to grow the market by expanding their customer base by increasing consumer awareness of specialist products, better targeting their products through partnerships, reducing underinsurance, and adapting their distribution strategies to consumer purchasing preferences. Brokers remain the main distribution channel, although MNW individuals are moving away from them in favor of purchasing directly and via banks online. The market is soft due to insurer overcapacity, which has driven down rates and profitability, although premiums are beginning to stabilize. Competition is also provided by insurers offering enhanced standard policies. Hiscox and Chubb account for the largest share of GWP; meanwhile the rest of the market is characterized by a range of specialist and composite insurers. In the future, technology will play a greater role in the market by improving insurer-broker-customer relationships and managing household risk. Read More

This statistic shows the total commercial property insurance expenses of the general business insurance market in the United Kingdom (UK) from 2007 to 2018. In 2018, the total commercial property insurance outgoings amounted to over three billion British pounds (GBP).

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Marine Insurance Market Size 2024-2028

The marine insurance market size is forecast to increase by USD 5.42 billion, at a CAGR of 3.32% between 2023 and 2028.

The market is experiencing significant changes, driven by the increasing demand for commercial transportation of goods via marine shipping and cross-border transportation. The shortage of shipping containers and the rise in hijacks, particularly in export activities, have heightened the need for effective risk management services. E-commerce companies are also contributing to the growth of this market due to their reliance on marine shipping for global deliveries. Advancements in technology, such as machine learning and artificial intelligence, are playing a crucial role in claim processing and risk assessment. These technologies enable insurers to analyze historical data and predict potential risks, thereby improving underwriting accuracy and reducing fraud. Despite these growth factors, the market faces challenges, including low profitability due to intense competition and increasing claims costs. Mergers and acquisitions and collaborations are common strategies used by companies to expand their reach and improve profitability.

What will be the Size of the Market During the Forecast Period?

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The market plays a crucial role in safeguarding the interests of cargo owners in the United States. This sector offers various types of insurance policies, including cargo insurance and marine liability insurance, to provide financial protection against losses and damages during the transportation of goods via marine shipping and cross-border transportation. Cargo owners face numerous risks while transporting their goods via cargo vessels. These risks include ship accidents, loss or damage to cargo, hijacks, and environmental accidents resulting in fatalities. Marine insurance coverage helps mitigate these risks, ensuring that cargo owners are not left financially burdened in case of unforeseen circumstances. Marine liability insurance is another essential component of the market. It offers protection to cargo vessel owners, charterers, and other parties involved in marine transportation against third-party claims arising from property damage, environmental pollution, and personal injuries.
The market presents several opportunities for growth. With the increasing volume of export activities and the rise of e-commerce companies, the demand for marine insurance is expected to grow. The shortage of cargo vessels and the need for specialized insurance plans to cover unique risks further add to the market's potential. Property damage and losses are common in the market. These incidents can result from various causes, including weather conditions, equipment failure, and human error. Marine insurance policies help cargo owners recover their financial losses and minimize the disruption to their businesses. Environmental accidents pose a significant risk to the market. Oil spills, for instance, can cause extensive damage to marine ecosystems and result in costly clean-up efforts. Marine insurance policies can help cover the costs associated with environmental remediation and third-party claims.

How is this market segmented and which is the largest segment?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Product

  Cargo
  Hull
  Offshore energy
  Marine liability


End-user

  Cargo owners
  Traders
  Government


Geography

  Europe

    Germany
    UK
    France


  APAC

    China
    Singapore


  South America



  Middle East and Africa



  North America

By Product Insights

The cargo segment is estimated to witness significant growth during the forecast period.

Marine insurance plays a crucial role in the international shipping industry, protecting ship owners and traders against various risks associated with sea transportation. Three primary types of marine insurance policies are Voyage policies, Floating policies, and Valued policies. Voyage policies cover specific risks during a single voyage, while Floating policies provide continuous coverage for an entire fleet. Valued policies insure the vessel and cargo for their agreed-upon value. Wholesalers and retail brokers act as intermediaries, facilitating the sale of marine insurance policies to ship owners and traders. The market caters to diverse needs, including the transportation of dry cargo, such as steel and metal ores, and containerized goods.

The size of cargo vessels varies, ranging from 80 meters to 160 meters in length. These vessels are designed to handle both bulk and containerized products, catering to various types of trade. Marine freight, a significant mode of transporting goods by se

This statistic shows the total domestic property insurance expenses of the general business insurance market in the United Kingdom (UK) from 2007 to 2018. Overall, the value of domestic property insurance outgoings decreased with fluctuation between 2007 and 2018. In 2018, the total domestic property insurance expenses reached a value of over 4.7 billion British pounds (GBP).

Explore Doorda's UK Residential Building Characteristics Real Estate Data, offering insights into 426K buildings aggregated from 15 data sources. Unlock Building risk insights and enhanced property analytics capabilities.

Recent changes to the regulation of the home emergency market are forcing providers to rethink their sale strategies. Insurers are currently striving to adhere to the new market rules while ensuring the processes that initially brought success remain intact, such as selling products as add-ons to a regular household insurance policy. A sizable proportion of consumers still purchase home emergency cover as a standalone product – with good reason, as these often contain a more comprehensive range of coverage and additional features. The challenge is for insurers to drive add-on home emergency polices while retaining a coverage level similar to that of a standalone product. Consumers are also beginning to recognize the potential of smart technology in the home but remain largely uninterested and/or unwilling to embrace such devices. A lack of understanding about the use of smart home products is the most pertinent factor here, despite most customers recognizing the benefits they could have on their energy consumption. However, the responsibility lies with the insurer in promoting the benefits of the “connected home” and the impact these devices could have on premiums following their installation. This could perhaps be achieved by offering a variance of incentives. Read More

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Insurance Brokerage Market Size 2025-2029

The insurance brokerage market size is forecast to increase by USD 117.3 billion at a CAGR of 8.2% between 2024 and 2029.

The market is experiencing significant growth, driven primarily by the increasing demand for insurance policies in both personal and commercial sectors. This trend is fueled by various factors, including an expanding global population, rising disposable income, and heightened awareness of risk management. Furthermore, the integration of IT and analytic solutions in the insurance industry is revolutionizing the way insurance policies are underwritten, priced, and distributed. This technological advancement enables insurance brokers to offer more personalized and efficient services, enhancing customer experience and satisfaction. Another key trend shaping the market is the direct purchase of insurance policies by customers, which is becoming increasingly common due to the convenience and accessibility offered by digital platforms. However, this trend also presents challenges for insurance brokers, as they must adapt to the changing market dynamics and find ways to differentiate their services to remain competitive. To capitalize on market opportunities and navigate challenges effectively, insurance brokers must focus on enhancing their digital capabilities, expanding their product offerings, and building strong relationships with customers. By staying abreast of industry trends and leveraging technology, insurance brokers can position themselves as trusted advisors and value-added partners to their clients.

What will be the Size of the Insurance Brokerage Market during the forecast period?

Request Free SampleThe market encompasses the provision of independent advice and related services to clients seeking to purchase insurance policies. This market plays a vital role in the insurance industry, facilitating the transaction between insured parties and insurance companies. Market dynamics are influenced by various factors, including regulatory changes, risk assessment, claims assistance, and risk management consulting. The size of the market is substantial, with growth driven by the increasing demand for specialized expertise and emerging opportunities in areas such as medical and health insurance, as well as the need for financial interests to manage risks effectively. The projection period is expected to bring continued expansion, as businesses and individuals increasingly recognize the value of independent brokerage services in navigating the complexities of the insurance landscape.

How is this Insurance Brokerage Industry segmented?

The insurance brokerage industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments. TypeNon-life insuranceLife insuranceEnd-userIndividualsCorporateChannelOfflineOnlineConsumerRetailWholesaleGeographyNorth AmericaUSCanadaEuropeFranceGermanyItalyUKAPACChinaIndiaJapanSouth AmericaBrazilMiddle East and Africa

By Type Insights

The non-life insurance segment is estimated to witness significant growth during the forecast period.The market is experiencing notable growth, particularly in the non-life insurance segment. Non-life insurance, also known as general insurance, covers financial losses from various risks such as fire, floods, hurricanes, earthquakes, theft, and travel mishaps. This type of insurance is essential for individuals and businesses, offering compensation for accidental financial losses, improved savings, and economic stability. Major types of general insurance include personal, industrial, commercial, and marine insurance. Personal insurance encompasses medical, accidental, property, and vehicle insurance policies. Brokerage services play a crucial role in the insurance industry by providing independent advice, risk assessment, claims assistance, and customer education. Digital tools and platforms, including mobile apps and online brokerages, facilitate customer interactions and policy customization. Compliance requirements and regulatory changes shape the regulatory environment. Emerging opportunities include sustainability and ethical conduct, while digital transformation and insurtech startups disrupt traditional brokerage models. Brokerage competition intensifies as firms offer risk management consulting, claims processing, underwriting support, reinsurance brokerage, and cyber insurance. The market is projected to continue growing, driven by increasing insurance demand and the need for insurance solutions tailored to diverse risk profiles.

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The Non-life insurance segment was valued at USD 125.80 billion in 2019 and showed a gradual increase during the forecast period.

This dataset has been superseded The newGeoSure Insurance Product (newGIP) provides the potential insurance risk due to natural ground movement. It incorporates the combined effects of the 6 GeoSure hazards on (low-rise) buildings. This data is available as vector data, 25m gridded data or alternatively linked to a postcode database - the Derived Postcode Database. A series of GIS (Geographical Information System) maps show the most significant hazard areas. The ground movement, or subsidence, hazards included are landslides, shrink-swell clays, soluble rocks, running sands, compressible ground and collapsible deposits. The newGeoSure Insurance Product uses the individual GeoSure data layers and evaluates them using a series of processes including statistical analyses and expert elicitation techniques to create a derived product that can be used for insurance purposes such as identifying and estimating risk and susceptibility. The Derived Postcode Database (DPD) contains generalised information at a postcode level. The DPD is designed to provide a 'summary' value representing the combined effects of the GeoSure dataset across a postcode sector area. It is available as a GIS point dataset or a text (.txt) file format. The DPD contains a normalised hazard rating for each of the 6 GeoSure themes hazards (i.e. each GeoSure theme has been balanced against each other) and a combined unified hazard rating for each postcode in Great Britain. The combined hazard rating for each postcode is available as a standalone product. The Derived Postcode Database is available in a point data format or text file format. It is available in a range of GIS formats including ArcGIS (.shp), ArcInfo Coverages and MapInfo (.tab). More specialised formats may be available but may incur additional processing costs. The newGeoSure Insurance Product dataset has been created as vector data but is also available as a raster grid. This data is available in a range of GIS formats, including ArcGIS (.shp), ArcInfo coverage's and MapInfo (.tab). More specialised formats may be available but may incur additional processing costs. Data for the newGIP is provided for national coverage across Great Britain. The newGeoSure Insurance Product dataset is produced for use at 1:50 000 scale providing 50m ground resolution. This dataset has been specifically developed for the insurance of low-rise buildings. The GeoSure datasets have been developed to identify the potential hazard for low-rise buildings and those with shallow foundations of less than 2 m deep. The identification of ground instability and other geological hazards can assist regional planners; rapidly identifying areas with potential problems and aid local government offices in making development plans by helping to define land suited to different uses. Other users of these data may include developers, homeowners, solicitors, loss adjusters, the insurance industry, architects and surveyors.

In 2020, the United Kingdom (UK) was the largest property insurance market with over 25 billion euros in insurance premiums. Germany and France completed the top three and together with the UK made up close to 60 percent of them European property insurance market.

This report provides in-depth analysis of the UK home emergency insurance and home services market. The points discussed include market sizes, the current and forecast value of home emergency GWP, and the use of smart technology in the home. Read More

The newGeoSure Insurance Product (newGIP) provides the potential insurance risk due to natural ground movement. It incorporates the combined effects of the 6 GeoSure hazards on (low-rise) buildings. This data is available as vector data, 25m gridded data or alternatively linked to a postcode database the Derived Postcode Database. A series of GIS (Geographical Information System) maps show the most significant hazard areas. The ground movement, or subsidence, hazards included are landslides, shrink-swell clays, soluble rocks, running sands, compressible ground and collapsible deposits. The newGeoSure Insurance Product uses the individual GeoSure data layers and evaluates them using a series of processes including statistical analyses and expert elicitation techniques to create a derived product that can be used for insurance purposes such as identifying and estimating risk and susceptibility. The Derived Postcode Database (DPD) contains generalised information at a postcode level. The DPD is designed to provide a summary value representing the combined effects of the GeoSure dataset across a postcode sector area. It is available as a GIS point dataset or a text (.txt) file format. The DPD contains a normalised hazard rating for each of the 6 GeoSure themes hazards (i.e. each GeoSure theme has been balanced against each other) and a combined unified hazard rating for each postcode in Great Britain. The combined hazard rating for each postcode is available as a standalone product. The Derived Postcode Database is available in a point data format or text file format. It is available in a range of GIS formats including ArcGIS (.shp), ArcInfo Coverages and MapInfo (.tab). More specialised formats may be available but may incur additional processing costs. The newGeoSure Insurance Product dataset has been created as vector data but is also available as a raster grid. This data is available in a range of GIS formats, including ArcGIS (.shp), ArcInfo coverages and MapInfo (.tab). More specialised formats may be available but may incur additional processing costs. Data for the newGIP is provided for national coverage across Great Britain. The newGeoSure Insurance Product dataset is produced for use at 1:50 000 scale providing 50 m ground resolution. This dataset has been specifically developed for the insurance of low-rise buildings. The GeoSure datasets have been developed to identify the potential hazard for low-rise buildings and those with shallow foundations of less than 2 m deep. The identification of ground instability and other geological hazards can assist regional planners; rapidly identifying areas with potential problems and aid local government offices in making development plans by helping to define land suited to different uses. Other users of these data may include developers, homeowners, solicitors, loss adjusters, the insurance industry, architects and surveyors. Version 7 released June 2015.