The five largest European insurers have increased their share of the UK insurance market after losing out to direct competitors in the mid-1990s, according to figures from Swiss Re.
Fierce competition from direct writers such as Direct Line cut back the "big five" insurers' market share to 32% of the market by premium income in 1994.
But the big five have successfully used mergers and acquisitions to claw back these losses to the extent they held 55% of the market in 1999.
Much of this growth was at the expense of the top six to 15 insurers, said the report Europe in focus: Non-life markets ungoing structural change.
The top five European insurers are Axa, Allianz, Zurich, CGU and Generali.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
