The UK’s top 10 biggest insurance companies must take into account first
With over 330 long-term savings providers, 920 general insurers, more than 300,000 workers, and a total premium volume of over $400 billion, the UK insurance business is the largest in Europe and the fourth largest in the world. Here is a list of the biggest and best insurance providers in the UK that you should look into before doing anything else.
Based on new individual life insurance sales, Legal & General Group, with its headquarters in London, is the largest life insurance provider in the UK. The business provides a variety of services, including term and whole life insurance, mortgages, financial management, retirement products, home and pet insurance, and other services. The total assets of Legal & General were over $1 billion as of December 31, 2021
The top life and general insurance provider in the UK and Ireland is Aviva plc. The company serves about 32 million clients globally, including 15.5 million individuals in the UK, with more than 28,000 workers. According to individual annuities, Aviva is the largest general insurer in the UK and the top provider in the country. It provides investments, stocks & shares ISAs, pensions, travel and accidental death insurance, as well as car, house, life, and health insurance.
The second-largest general insurance provider in the UK is RSA Insurance Group. Through brokers and affinity partners, RSA, which employs 13,500 people, provides a comprehensive range of services for personal, business, and specialty insurance. The business recorded net written premiums of £6.2 billion in 2020.
One of the oldest general insurers in the world is RSA. It was bought by Canadian insurance Intact Financial Corporation and Danish insurer Tryg A/S in June 2021.
Based on the number of active policies, the Direct Line Insurance Group, with its headquarters in Bromley, England, is among the top providers of personal auto and house insurance. It is also the second-largest travel insurance in the UK and the fourth-largest insurer of pets. The Direct Line, Churchill, Privilege, and Darwin brands are the company’s top sellers.
One of the top three general insurers in the UK is Allianz Insurance plc, a subsidiary of the German Allianz Group. The business offers commercial insurance, pet and equine insurance, house and auto insurance, and insurance for musical instruments. The biggest pet insurance provider in the UK is Petplan, a division of Allianz. Additionally, it is the biggest horse and rider insurer in the nation.
One of the largest suppliers of insurance goods and services in the UK is Phoenix Group Holdings plc, which has around 14 million customers. Phoenix Life and Phoenix Life Assurance, Phoenix Wealth, Standard Life Assurance, ReAssure, and SunLife are some of the firms that make up the Group.
One of the top 10 insurance providers in the UK, Liverpool Victoria (LV=) has more than seven million clients and 4,000 staff members. It provides term and whole life insurance, pension and retirement services, annuities, investments, and insurance for your car, house, pet, travel, and small company. According to a UKCSI poll conducted in 2021, the company is the best insurer in the UK for customer service.
With around 2.2 million clients, Bupa (British United Provident Association) is the top health insurance provider in the UK. It provides care homes, medical facilities, travel insurance, dental insurance, individual, family, and company health insurance, among other services.
With roughly ten million life and protection insurance policies, Royal London Mutual Insurance Society, founded in 1861, is the largest mutual insurer in the UK. It provides a variety of services, including investment management, pensions, critical illness insurance, business insurance, and life insurance.
One of the biggest vehicle insurance companies in the UK is Admiral Group plc, with its headquarters in Cardiff, South Wales. Admiral, Bell, Diamond, Gladiator, Elephant, and Veygo are some of the company’s brands. Cheap auto insurance, house and landlord insurance, travel insurance, commercial vehicle insurance, auto financing, and comparative and loan products are all provided by the Group.
AXA, a French multinational corporation, is well-represented in the UK thanks to its extensive branch network. It offers a wide range of insurance services to the private, small and medium-sized business, corporate, and mid-market sectors. Car, house, vacation, landlord, van, and health insurance are just a few of the goods offered by the organisation.
One of the top providers of house and auto insurance in the UK is Ageas, a multinational corporation based in Belgium. With more than 5 million clients, it ranks as the fifth-largest auto insurer in the UK. In the previous year, the business paid out more than 99 percent of client claims. Ageas has a Defaqto rating of five stars.
One of the top suppliers of pension, investment, and life insurance products in the UK is Aegon UK, which has its headquarters in Edinburgh, Scotland. More than 2,000 employees work for the company, which has offices in London, Edinburgh, Lytham St. Annes, Witham, Manchester, and Peterborough. It services over 4 million consumers.
With total assets of £8.3 billion, gross premiums written of more than £2.1 billion, net premiums written of £1.1 billion, and total assets of over £2.1 billion, American International Group UK Ltd. is one of the biggest insurance businesses in the UK.
A Mutual NFU
The largest rural insurer in the UK is NFU Mutual, with its headquarters in Stratford-upon-Avon, Warwickshire, with more than 900,000 members. The National Farmers Union Mutual Insurance Society Ltd. trades under the brand NFU Mutual. Which.co.uk has recognised the organisation Insurance Brand of the Year.
UK-based Zurich Insurance
Retail and corporate customers in the UK can choose from a large selection of general and life insurance products and services from Zurich UK. The business, which employs over 5,000 people, has locations in, among others, London, Birmingham, Farnborough, Glasgow, Swindon, and Whiteley.