Analysis

Opinion: Are the days of generalist UKGI firms numbered?

By 2024-09-18T08:00:00

generalist, specialist

Editor Katie Scott discusses the overarching structure of the UKGI market, commenting on the continued industry-wide drive to be increasingly ‘more specialist’

Pre-pandemic, UK general insurance (UKGI) firms could often be divided into two clear camps – generalists and specialists.

While specialist businesses succinctly homed in on very particular niches of UKGI, providing detailed pockets of cover across a very precise list of risks, generalist firms were more wide-reaching and embraced a large pool of clients with myriad needs and requirements.

In recent years, however, the number of firms admitting to being UKGI generalists has massively reduced as the market continues its Russian doll style consolidation, becoming “more specialist” with every bite of the M&A apple – in addition to adopting “a strong focus on cost efficiency”.

Read more…

Explore more briefing articles here, or discover more M&A-related content here

You need to register to continue reading the rest of this article and more for free.
(If you’re already registered, please sign in here.)

REGISTER NOW FOR FREE

We’re glad you’ve chosen Insurance Times as your source for industry news and hope you’ve been enjoying reading articles from our award-winning team of journalists.

Gain access to more of our exclusive, breaking stories, interviews and news analysis as it happens. Registering is quick, easy, free, and will also have the additional benefits:

  • Uncover Secrets: Dive deep with exclusive annual reports, fueled by expert insights.
  • News That Matters: Award-winning coverage & analysis, delivered to your inbox.
  • Stay Ahead, Your Way: Daily or weekly - choose your news rhythm.
  • Own Your Learning: Curate your knowledge with a personalized library.

Register for FREE now and Keep Reading

Stay on top of the insurance game with our subscription! Get unlimited access to over 80,000 articles, in-depth analysis, exclusive reports by industry experts, and our Five-Star rating system to compare companies and find the best fit for your business needs - view subscription options.