MAY 2025
We are pleased to share our preliminary analysis of 2024 SFCR returns for UK motor insurers. This study provides an analysis of the size, performance, and solvency position of the largest UK motor insurers in 2024 as disclosed in their regulatory returns.
2024 proved to be a year of exceptional profits for UK motor insurers; firms that timed the market well have reaped the reward of strong rate increases arising in late 2023. At the same time, three acquisitions have meant that the market is increasingly dominated by five insurance groups. We identify three areas that will determine whether this consolidation will continue.
We aim to update this analysis in the coming months for the remainder of the market whose SFCRs were released at a later date.
Please get in touch you are interested in arranging a private discussion surrounding the issues arising from this analysis.
Marcuson Consulting - UK Motor Insurance Market 2024 - Preliminary Analysis