Top 100 UK Insurers 2025 revealed

Click here to view Insurance Post’s Top 100 UK Insurers 2025 table. Click here to view everything in one place, including deep dives on this year’s Top 10. View analysis. View next company on the list.

Concerns about high levels of consumer price index inflation and rapidly increasing interest rates appear now to be a thing of the past. 

Although headline inflation is yet to fall to the Bank of England 2% target, the relative stability of CPI has allowed the market sufficient breathing room to price for this with relative confidence.

While on the face of it inflation and UK interest rates are more predictable than the torrid times between 2020 and 2023, we continue to exist in a very uncertain world. 

The foreign policy stance of the US administration, in particular, brings a significant degree of uncertainty to the global stage.

For example, the fallout in the financial markets of the April 2025 “Liberation Day” announcement represents a stark reminder of just how quickly external factors can have very real implications for the UK economy and its insurers.

UK total non-life combined ratios

This year’s Top 100 UK Insurers includes certain companies domiciled in Gibraltar, which predominantly write UK business. 

In 2024, these Gibraltar domiciled companies alone accounted for approximately 12% of UK gross written premium.

The 100 largest insurers, ranked by non-life gross written premium, wrote just over £79bn in top line and reported a combined underwriting profit of £1.6bn in 2024, a marked improvement against 2023, which saw an underwriting loss of just over £600m.

The improvement is driven largely by the motor segment, which in 2024 accounted for approximately one third of net premiums.

In 2024, Aviva Insurance and Aviva International Insurance (both subsidiaries of Aviva PLC) further cemented their status as the UK’s largest insurance companies by non-life GWP. Aviva International is a reinsurance vehicle for the Aviva group.

UK Insurance Ltd, better known as Direct Line, pipped Intact, formerly known as RSA, to the third sport in the ranking. 

While RSA publicly announced its exit from the UK personal lines market, it saw a strong level of growth in top line through 2024, driven in part by its renewed focus on commercial and specialty lines.

In July 2025, Aviva completed the acquisition of DLG. 

The acquisition brings together the top three players in our ranking, and almost doubles Aviva’s market share in the UK motor space, making it by far the most dominant player, commanding approximately a quarter of market premium.

UK insurers publish their solvency capital requirements and eligible own funds under the Solvency II regime. 

Overall, the industry is well capitalised, reporting an aggregate SCR coverage ratio of 189% in 2024, down just 1.3 percentage-points against 2023. 

As would be expected, there are significant differences in solvency across the market. Drivers of this variance include the nature of business written, the capital strategies of insurance groups in respect of their subsidiaries, and recent performance.

Motor

There has been a change in UK Solvency II disclosures which no longer makes it possible to compute combined ratios by line of business. It is now only possible to generate by line loss and acquisition ratios.

The performance of UK motor business has been volatile over the past five years, due to fluctuations in the personal injury discount rate, the impact of Covid-19-related lockdowns on claims frequency, claims inflation, and the general insurance pricing practices rules.

The combination of many of the above points drove motor market loss ratios up by 24 percentage points between 2020 and 2023 to a high of 84%.

After almost two consecutive years of stiff rate increases, in early 2024, top line income for the motor segment caught up with the high level of claims inflation that prevailed post-pandemic; 2024 was therefore one of the better underwriting years for the UK motor market in recent memory.

In addition, in December 2024 the market benefitted from the early conclusion of the Ogden discount rate review by the Lord Chancellor, which resulted in the upward revision of the rate by 75 basis points to 0.50%. 

The ODR represents the investment return that a hypothetical claimant would get by investing the lump sum of their claim and is used to calculate the long-term value of personal injury claims. For insurers, the higher the discount rate, the lower the claims size that is payable.

The change saw one-off reserve releases across the market’s motor insurers. The magnitude varied from company to company and was most pronounced for insurers with the lowest levels of reinsurance utilisation.

It remains to be seen how long positive margins in the motor segment will last. Retail consumers are among the most price-driven cohort of insurance buyers and therefore competitive forces are significant. 

According to data from the Association of British Insurers, premiums in 2025 have steadily fallen quarter-on-quarter from record highs in late 2024, albeit from a healthy level of adequacy.

Property

The accident-year loss ratio for the UK property segment improved modestly in 2024, benefitting from robust rate hardening by the market, which compensated for the elevated level of weather-related claims activity.

Subsidence risk in particular continues to be a serious challenge. Spring 2025 has broken historical climate records, characterised by an unprecedented season of warmth and sunshine. 

While current claims volumes in the first half of 2025 remain in line with historical averages, Met Office data shows that July and August saw the hottest mean temperatures on record, likely leading to elevated subsidence related claims activity.

Compounding the issue is the lack of claims servicing capacity in the market. Some UK claims handling firms have struggled with operational challenges, post-Covid-19. 

This has slowed the pace of settlements, ultimately leading to high claims costs.

Despite challenges in the retail space, overall profitability of the property segment is influenced more significantly by the commercial segment, where insurers have been more successful at offsetting costs with premium rate rises, hence there is less volatility of results than other lines such as motor.