Life Insurance in the UK, Key Trends and Opportunities to 2018

Date: 2015-09

The life insurance segment in the UK accounted for 69.3% of the total industryโ€™s gross written premium in 2013 after posting a review-period (2009โ€“2013) compound annual growth rate (CAGR) of 0.4%. The slower growth was associated with lower consumer confidence after the global financial and European debt crises, which led to a decline in the segment from 2008 until 2011. However, due to government actions and regulatory changes, the overall life segment increased at a CAGR of 4.0% during 2011โ€“2013. Group life insurance recorded positive growth, although individual life insurance declined due to low levels of confidence in investments, increased regulatory scrutiny by the Financial Conduct Authority (FCA), and changes in pensions during the review period.


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