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”.
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