United Kingdom (UK) Life Insurance Market to 2027

November 2023 | 50 pages | ID: UD5553761F28EN
MarketLine

Abstracts

United Kingdom (UK) Life Insurance Market to 2027

Summary

Life Insurance in the United Kingdom industry profile provides top-line qualitative and quantitative summary information including: market size (value 2017-22, and forecast to 2027). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.

Key Highlights

• The market is segmented into Life Insurance and Pension/Annuity.
• The UK life insurance market had total gross written premiums of $247.3 billion in 2022, representing a compound annual growth rate (CAGR) of 2.8% between 2017 and 2022.
• The life insurance segment accounted for the market's largest proportion in 2022, with total gross written premiums of $130 billion, equivalent to 52.6% of the market's overall value.
• Life insurance coverage in the UK population is moderate. According to in-house research, in 2022, life insurance penetration (ratio of premiums to GDP) in the UK was 5%.

Scope

• Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the life insurance market in the United Kingdom
• Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the life insurance market in the United Kingdom
• Leading company profiles reveal details of key life insurance market players’ global operations and financial performance
• Add weight to presentations and pitches by understanding the future growth prospects of the United Kingdom life insurance market with five year forecasts

Reasons to Buy

• What was the size of the United Kingdom life insurance market by value in 2022?
• What will be the size of the United Kingdom life insurance market in 2027?
• What factors are affecting the strength of competition in the United Kingdom life insurance market?
• How has the market performed over the last five years?
• What are the main segments that make up the United Kingdom's life insurance market?

Contents

1 EXECUTIVE SUMMARY

1.1. Market value
1.2. Market value forecast
1.3. Category segmentation
1.4. Geography segmentation
1.5. Market share
1.6. Market rivalry
1.7. Competitive landscape

2 MARKET OVERVIEW

2.1. Market definition
2.2. Market analysis

3 MARKET DATA

3.1. Market value

4 MARKET SEGMENTATION

4.1. Category segmentation
4.2. Geography segmentation

5 MARKET OUTLOOK

5.1. Market value forecast

6 FIVE FORCES ANALYSIS

6.1. Summary
6.2. Buyer power
6.3. Supplier power
6.4. New entrants
6.5. Threat of substitutes
6.6. Degree of rivalry

7 COMPETITIVE LANDSCAPE

7.1. Market share
7.2. Who are the leading players?
7.3. What strategies do the leading players follow?
7.4. What has been the rationale behind recent M&A activity?

8 COMPANY PROFILES

8.1. Aviva Plc
8.2. Lloyds Banking Group Plc
8.3. American International Group Inc (AIG)
8.4. Zurich Insurance Group Ltd

9 MACROECONOMIC INDICATORS

9.1. Country data

10 APPENDIX

10.1. Methodology
10.2. Industry associations
10.3. Related MarketLine research
10.4. About MarketLine

List Of Tables

LIST OF TABLES

Table 1: United Kingdom life insurance market value: $ billion, 2017–22
Table 2: United Kingdom life insurance market category segmentation: % share, by value, 2017–2022
Table 3: United Kingdom life insurance market category segmentation: $ billion, 2017-2022
Table 4: United Kingdom life insurance market geography segmentation: $ billion, 2022
Table 5: United Kingdom life insurance market value forecast: $ billion, 2022–27
Table 6: United Kingdom life insurance market share: % share, by value, 2022
Table 7: Aviva Plc: key facts
Table 8: Aviva Plc: Annual Financial Ratios
Table 9: Aviva Plc: Key Employees
Table 10: Aviva Plc: Key Employees Continued
Table 11: Lloyds Banking Group Plc: key facts
Table 12: Lloyds Banking Group Plc: Annual Financial Ratios
Table 13: Lloyds Banking Group Plc: Key Employees
Table 14: Lloyds Banking Group Plc: Key Employees Continued
Table 15: American International Group Inc (AIG): key facts
Table 16: American International Group Inc (AIG): Annual Financial Ratios
Table 17: American International Group Inc (AIG): Key Employees
Table 18: American International Group Inc (AIG): Key Employees Continued
Table 19: Zurich Insurance Group Ltd: key facts
Table 20: Zurich Insurance Group Ltd: Annual Financial Ratios
Table 21: Zurich Insurance Group Ltd: Key Employees
Table 22: Zurich Insurance Group Ltd: Key Employees Continued
Table 23: United Kingdom size of population (million), 2018–22
Table 24: United Kingdom gdp (constant 2005 prices, $ billion), 2018–22
Table 25: United Kingdom gdp (current prices, $ billion), 2018–22
Table 26: United Kingdom inflation, 2018–22
Table 27: United Kingdom consumer price index (absolute), 2018–22
Table 28: United Kingdom exchange rate, 2018–22

List Of Figures

LIST OF FIGURES

Figure 1: United Kingdom life insurance market value: $ billion, 2017–22
Figure 2: United Kingdom life insurance market category segmentation: $ billion, 2017-2022
Figure 3: United Kingdom life insurance market geography segmentation: % share, by value, 2022
Figure 4: United Kingdom life insurance market value forecast: $ billion, 2022–27
Figure 5: Forces driving competition in the life insurance market in the United Kingdom, 2022
Figure 6: Drivers of buyer power in the life insurance market in the United Kingdom, 2022
Figure 7: Drivers of supplier power in the life insurance market in the United Kingdom, 2022
Figure 8: Factors influencing the likelihood of new entrants in the life insurance market in the United Kingdom, 2022
Figure 9: Factors influencing the threat of substitutes in the life insurance market in the United Kingdom, 2022
Figure 10: Drivers of degree of rivalry in the life insurance market in the United Kingdom, 2022
Figure 11: United Kingdom life insurance market share: % share, by value, 2022