Why Aviva, Ageas UK and Markel were named insurers of the year at 2025’s Insurance Times Awards

The annual Insurance Times Awards continues to be a standout event in the UK general insurance (UKGI) calendar, bringing together leaders from across the market to recognise and celebrate the sector’s biggest achievements over the last year.

Among the most coveted honours of the evening are the awards for Personal Lines Insurer of the Year, Commercial Lines Insurer of the Year and the ultimate title of General Insurer of the Year.

At 2025’s event, held on 3 December at London’s Grosvenor House Hotel, Aviva once again claimed the General Insurer of the Year prize, extending a winning run that has now spanned more than a decade.

Meanwhile, Ageas UK retained its crown as Personal Lines Insurer of the Year following another strong underwriting performance, while Markel climbed to the top of the commercial lines market after a year of exceptional profitability and market-leading broker feedback.

Insurance DataLab has examined the latest Solvency and Financial Condition Reports (SFCRs), Top 50 Insurers data and broker research to uncover the stories behind these award-winning results.

General Insurer of the Year

Aviva’s triumph as General Insurer of the Year comes during a transformational period for the business, as it integrates its £3.7bn acquisition of Direct Line Group (DLG).

The deal has dramatically increased the insurer’s scale in UKGI and further solidified its position at the top of the market. The insurer reported gross written premium (GWP) of £12.7bn for 2024/25, according to Insurance DataLab’s analysis for the Top 50 Insurers 2025, almost double the £6.7bn recorded the previous year.

This represents year-on-year growth of more than 90%, driven primarily by the addition of DLG to the insurer’s ranks, and ensures Aviva retains its status as the largest insurer in UKGI.

Aviva’s latest underwriting results reflect the challenges that continue to face parts of the market.

The insurer reported an all lines combined operating ratio (COR) of 104.8% for 2024/25, compared with 98.4% the previous year.

Much of this decline in performance, however, is attributable to the newly acquired DLG business, which recorded a COR of 111.7% – although it is worth noting this still represents an improvement on the 121.6% COR the business reported the previous year.

Across Aviva’s non-Lloyd’s business, only the insurer’s motor and medical expenses books reported an underlying loss. Motor insurance, which makes up 46% of its non-Lloyd’s business, reported a COR of 118.8%, reflecting the continued impact of rising claims costs across the UK motor market. Meanwhile, medical expenses – which accounts for just 7% of Aviva’s non-Lloyd’s business – reported a COR of 102.5%.

Property insurance, which makes up 35% of Aviva’s non-Lloyd’s premium, delivered a profitable COR of 89.5% for 2024/25. General liability also performed profitably with a COR of 98.6%, while a number of smaller, more specialised business lines continued to provide valuable contributions to the group’s overall performance. These included assistance, with a COR of 82.7%, income protection, with a COR of 73.2%, and legal expenses, which delivered a combined ratio of just 60.3% for the year.

At Lloyd’s, Syndicate 1492 posted an underwriting profit of £42.9m for 2024, up slightly from £40.3m the previous year. These results contributed to a group Insurance DataLab underwriting performance rating of 63%, underpinned by individual scores of 64% for Aviva Insurance, 61% for Gresham and 69% for Syndicate 1492. The newly acquired DLG business achieved a rating of 62%.

Broker research also continues to reflect positively on the insurer’s service capabilities. In Insurance Times’ annual Five Star Rating Report for personal lines, Aviva achieved a score of 4.05 out of five for 2024/25, up from 3.88 the previous year, securing a five-star rating and rising to second place in the rankings. It was also one of only two insurers to be awarded five stars in personal lines this year.

The insurer maintained its strong performance in commercial lines too, achieving a score of 3.95 out of five for a second consecutive year and retaining its four-star rating to finish fourth among commercial lines insurers.

Aviva has also continued to make progress on complaints handling. The number of complaints per 1,000 policies at Aviva Insurance fell from a high of 3.64 in the second half of 2022 to 2.75 over the first half of 2025.

Across the wider group, DLG recorded 5.12 complaints per 1,000 policies in H1 2025, compared with 3.15 in H2 2022, so Aviva will be hoping it can deliver similar improvements to those seen it its existing business in the months and years to come.

Personal Lines Insurer of the Year

In the personal lines space, Ageas UK has once again strengthened its position as one of the market’s most consistent performers, retaining its title as Personal Lines Insurer of the Year for 2025.

The insurer reported GWP of £1.6bn for 2024/25, up from £1.3bn the previous year – an increase of more than 21% – as it cemented its place at 19th place in the Top 50 Insurers 2025.

This growth will be further bolstered by the £1.3bn acquisition of Esure once the two businesses are more fully integrated following the completion of the deal in September 2025.

Ageas also delivered a marked improvement in underwriting performance, reporting an all lines COR of 76.1% for 2024/25 compared with 92.7% the previous year. This means the insurer has now delivered underwriting profits in four of the last five years.

This strong performance led to Insurance DataLab awarding Ageas a 75% underwriting performance rating for 2024/25, which earned the insurer an Underwriting Gold Award.

These results were underpinned by the continued profitability of its motor and property books, both of which outperformed the wider market.

Motor – which accounts for 79% of Ageas’ book – delivered a COR of 77.5% for 2024/25, significantly better than the personal lines motor market aggregate COR of 106.1%. The insurer’s property book also performed strongly, with a COR of 75.7% against a market aggregate of 96.2% for personal lines property insurance.

Broker sentiment reinforced Ageas’ strong underwriting results. The insurer achieved a score of 4.00 out of five in the 2024/25 Five Star Rating Report for personal lines, up from 3.96 the previous year, retaining its four-star rating. It ranked third among personal lines insurers, having finished second in 2023/24.

Ageas also maintained its excellent handling of customer complaints. The insurer reported just 1.20 complaints per 1,000 policies in force in H1 2025, down from a high of 1.59 in H1 2023, solidifying its reputation for strong and consistent customer service.

Commercial Lines Insurer of the Year

In commercial lines, Markel has risen to claim this year’s top award after another strong period of underwriting performance and sustained growth across its specialist commercial portfolio.

The insurer reported GWP of £1.4bn for 2024/25, up from £1.3bn the previous year, cementing its position at 20th in the Top 50 Insurers 2025. This growth was delivered alongside a substantial improvement in profitability, with Markel reporting an all lines COR of 75.0% for 2024/25, down from 95.5% the previous year.

Across its non-Lloyd’s business, Markel achieved strong underwriting results across a number of key classes.

The insurer’s largest book of business is its general liability book, with liability business accounting for more than half of its overall premium.

And this business performed strongly for Markel. Professional indemnity insurance delivered a highly profitable COR of 68.1%, while Markel reported a COR of 74.2% for other general liability business.

Other profitable commercial lines of business include property with a COR of 53.2% and credit and surety insurance (73.2%), while marine, aviation and transport delivered a loss-making COR of 112.1%.

Markel’s Lloyd’s platform also delivered impressive results. Syndicate 3000 recorded an underwriting profit of £579.2m for 2024, up from £463.4m the previous year, further strengthening Markel’s overall financial position.

These results contributed to deliver a group Insurance DataLab underwriting performance rating of 74%, with Markel International scoring 77% and Syndicate 3000 scoring 72%. This earned both businesses an Insurance DataLab Gold Award for 2025, marking the second consecutive year that Syndicate 3000 has claimed gold.

Markel’s strong financial performance is matched by industry-leading broker sentiment too.

In Insurance Times’ annual Five Star Rating Report for commercial lines, Markel achieved a score of 4.36 out of five for 2024/25, up from 4.11 the previous year, retaining its five-star rating. The insurer finished first among commercial lines insurers for a second consecutive year, reflecting its ongoing commitment to delivering high-quality service to brokers.