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UK insurance market records 3.2% growth for 2024 – Allianz

By 2025-05-29T12:00:00

UK insurance growth

‘Insurance remains a growth industry, however, this growth is largely fuelled by policy inaction,’ says chief economist

The UK insurance market has recorded “a more normal growth” rate of 3.2% in 2024 following record-high growth of 13.8% in 2023, driven by premium increases and high interest rates.

This is according to the latest Global Insurance Report 2025, published on 27 May 2025 by insurer Allianz. This research analysed year-on-year developments in various insurance markets worldwide.

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