What are the biggest and best insurance companies in the United Kingdom? The UK insurance industry is the biggest in Europe and the fourth largest in the globe, with over 330 providers of long-term savings, 920 general insurers, over 300,000 employees, and total premiums of around $400 billion. Today in this post we will tell you about the top insurance companies in the UK.
16 Best Insurance Companies in the UK in 2023
1. Legal & General
Legal & General Group, headquartered in London, is the largest insurer in the UK based on new private life insurance sales. The company offers term and life insurance, home insurance, retirement products, pet insurance, investment management, mortgages, and other services. As of 31st December 2021, Legal & General’s total assets exceeded £583 billion.
2. Aviva
Aviva plc is the most popular leading life and general insurance company in the UK and Ireland. The company has over 28,000 employees and serves around 32 million customers worldwide, including 15.5 million in the UK. Aviva is the UK’s largest general insurer and number one in the UK for individual annuities. It offers home, life, auto, and health insurance, travel and accident insurance, prepaid funeral plans, ISA stocks, investments, shares, pensions, and more.
3. RSA Insurance
RSA Insurance Group is the second-largest general insurance company in the United Kingdom. RSA, with 13,500 employees, offers a wide range of personal, commercial, and special insurance services through brokers and partners. In 2020, the company reported net written premiums of £6.2 billion. RSA is one of the world’s oldest general insurance companies. In June 2021, it was acquired by Danish insurance company Tryg A/S and Canadian insurance company Intact Financial Corporation.
4. Direct Line
Direct Line Insurance Group, based in Bromley, England, is one of the leading policy-based personal car and home insurance companies. It is also the fourth largest pet insurer and the second largest travel insurer in the United Kingdom. The company’s main brands are Direct Line, Privilege, Churchill, and Darwin.
5. Allianz
Allianz Insurance plc, part of the German Allianz Group, is one of the UK’s top three general insurers. The company offers home, car, pet insurance, musical instrument insurance, equine insurance, and business insurance. Petplan, a subsidiary of Allianz, is the United Kingdom’s largest pet insurance company. It is also the largest insurance company for riders and horses in the country.
6. Phoenix Group
Phoenix Group Holdings plc, with around 14 million buyers, is one of the largest providers of insurance products and services in the UK. Group companies include Phoenix Life, Wealth and Phoenix Life Assurance, ReAssure, Standard Life Assurance, and SunLife.
7. Liverpool Victoria
Liverpool Victoria is one of the United Kingdom’s top 10 insurers, with over 7 million buyers and 4,000 employees. It offers home, car, pet, travel, and small business insurance, long-term, whole life insurance, annuities and investments, pensions, and retirement services. The company is the United Kingdom’s number #1 insurer for customer service, according to the UKCSI 2021 survey.
8. Bupa
Bupa stands for (British United Provident Association) is the United Kingdom’s leading health insurer, with around 2.2 million buyers. It offers travel insurance, family, individual, and business health insurance, health centers, dental insurance, nursing homes, and other services.
9. Royal London
The Royal London Mutual Insurance Society, established in 1861, is the United Kingdom’s biggest mutual insurer with around 10 million life and protection policies. It offers business insurance, critical illness coverage, life insurance, pensions, investment management, retirement options, and other services.
10. Admiral Group
Admiral Group plc, based in Cardiff, South Wales, is one of the UK’s huge car insurers. The company’s brands are Diamond, Admiral, Bell, Elephant, Veygo, and Gladiator. The Group offers cheap travel insurance, home and homeowners insurance, car finance, car insurance, and commercial vehicle insurance, as well as comparison and loan products.
11. AXA
AXA is a French multinational insurance company, that has a strong presence in the United Kingdom with a branch network across the country. It provides a various range of insurance services for SMEs, individuals, corporate sectors, and mid-sized. The company’s products include homes, cars, travel, vans, rental, and health insurance, among others.
12. Ageas
Ageas is a Belgian international group, one of the major home, and car insurance companies in the UK. It is the 5th largest car insurer in the United Kingdom, with over 5 million buyers. The company paid more than 99% of buyers’ claims last year. Ageas has a 5-star rating from Defaqto.
13. Aegon
The Aegon United Kingdom, based in Edinburgh, Scotland, is one of the UK’s leading providers of investment, pension, and life insurance products. The company serves around 4 million buyers and employs over 2,000 people through offices in London, Lytham St Annes, Edinburgh, Manchester, Witham, and Peterborough.
14. AIG UK
American International Group UK Ltd is one of the UK’s biggest insurance companies with gross written premiums of over £2.1 billion, net written premiums of £1.1 billion, and total assets of £8.3 billion.
15. NFU Mutual
NFU Mutual, based in Stratford-upon-Avon, Warwickshire, is the United Kingdom’s major rural insurer with over 900,000 members. NFU Mutual is a trading name of (National Farmers Union Mutual) Insurance Society Ltd. The company was named Insurance Brand of the Year by Which.co.uk
16. Zurich Insurance UK
Zurich is one of the world’s leading insurers that offers a broad range of general and life insurance products and services to United Kingdom retail and business buyers. With around 5,000 employees, the company operates through offices in London, Farnborough, Birmingham, Swindon, Glasgow, and Whiteley, among others.
See also: US 10 Biggest Home Insurance Providers
