‘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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