Daniel Slotta
Research expert covering Greater China
Life insurance industry in the United Kingdom (UK) - statistics & facts
The United Kingdom (UK), one of the world鈥檚 largest financial centers, is a leader in the European life insurance industry. In 2022, UK life insurance businesses had a market share of over 60 percent of the total UK insurance market, providing a wide range of insurance and financial investment products. Life insurance policies provide coverage in the event of the policy holder鈥檚 death, allowing them to leave money behind to help their beneficiaries. Annuities, on the other hand, are a regular payment scheme which grants the policy holder lifelong income upon retirement. While income protection insures a policy holder's income in the event they suffer an injury or a terminal illness and cannot work. In 2024, three of the top ten life and health insurers in Europe were domiciled in the UK
