2021 was a pivotal year for the global insurance industry as it returned to growth following 2020 and became more agile, digital and customer-centric. In this latest newsletter from our Financial Sector and Private Growth Capital team, we look at how 2022 looks brighter still as the UK remains highly attractive for investment and a leading player in the global Insurtech space.
- The UK is the 4th largest insurance market in the world and the largest in Europe.
- The UK insurance market contributed £29.1bn to the UK economy and recorded a trade surplus of around £17.4bn of insurance and pension services.
- The market accounted for 5.8% of global premiums and around one-quarter of premiums in advanced European economies.
- UK is a global leader in Insurtech driven by many of the trends set out in the right, not least a well-educated market and deep pools of capital available.
- In 2020 the London Market saw almost 10% increase in commercial insurance premiums written since 2018
This newsletter also accompanies the April 2022 Inside The Deal webinar partnered with Business Leader, discussing Insurtech and how technology will ensure its future.
Hosted by Oli Barrett MBE
- Aldo Monteforte – CEO & founder, The Floow
- Ben Goldring – Head of Financial Services, finnCap Cavendish
- Derek Henry – Managing Director of Digital Distribution, Gallagher
- Sophie Winwood – Principal, Anthemis Group
- Thomas Wynne – CEO, Capsule Insurance