How Many Insurance Companies are there in the UK?

As of January 2014, the overall number of insurance companies in the United Kingdom were 552. As of September 2022, the number fell from 552 to 402 UK-based insurance companies and 224 of them are operating within the accident and sickness sector.

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In Europe, the UK boasts the largest insurance market and the world third biggest, with insurers here managing more than £2 trillion worth of investments, according to the data from the industry. This is unsurprising that the country has become an appealing choice for investors looking to diversify their portfolios.

In the UK, the largest insurance companies have a combined market capitalization of slightly over $168 billion (£139.8 billion), thereby accounting for about 6% of the global figure of $3.2 trillion (£2.7 trillion). While the share in the UK seems a, it ranks next only to those of industry powerhouses China and US.

In this article we will be looking at the UK biggest insurers based on this metric.



Aon with head office located in London, England with a market cap of $62.15 billion (£51.5 billion). Aon leads the list of the largest insurance companies in the UK, with a reach spanning more than 120 countries and territories, with a strong global workforce of 60,000. As a public traded company, they specialize in commercial insurance linked securities.

Aon has five business units, namely:

  • Commercial risk solutions: Aon has a range of advisory, insurance, and risk transfer services catering to different industries. These include business continuity management, actuarial risk assessment, claims consulting, and insurance policies.
  • Reinsurance solutions: this consist of risk transfer, advocacy claims, and capital management products and services designed for reinsurers.
  • Retirement solutions: this includes human capital, retirement, and investment products that help employers, fiduciaries, and investment officers manage their risk and improve their business.
  • Health solutions: A range of benefits, consulting and exchange solutions designed to help clients mitigate rising healthcare costs and improve employee health and wellbeing.
  • Data and analytics service: Data technology, management and advisory services that help customers to reduce risk and improve business performance.

The insurance company was founded in Chicago, USA in 1982.

Prudential Plc.


Prudential Plc. is located in London, England with a market cap of $41.03 billion (£34 billion).

Prudential Plc. is a health and life insurance and asset management specialist with their headquarters located in Hong Kong and London. More than 30 life insurance across almost two dozen countries  are operated by the company and they boasts a network of over 530,000 agents, 27,000 bank branches and 170 bank partners.

The insurance portfolio of prudential consists of:

  • Life insurance
  • Accident and health insurance
  • Property and casualty insurance



WTW is an insurance company in the UK with head office located in London, England with a market cap of $25.05 billion (£20.75 billion). It was formally known as Willis Towers Watson, but in 2022, the company rebranded to WTW, thereby winding the almost 200 years of history for the names of its predecessors businesses.

WTW’s insurance solutions are under its risk unit, which offers the services below:

ESG and sustainability

Insurance consultancy and technology

Climate risk management

Affinity insurtech solutions

Claims reporting, monitoring, and advocacy

Cyber risk management

Personal risk management and insurance

Reputational risk management

Retirement solutions

Risk analytics

Two other business lines are owned by the company, these are:

Capital: Complex risks are dealt here

People: rewards and recognition, employee engagement are the main focus.


Aviva has it head office located in London, England with a market cap of $14.79 billion (£12.25 billion) with business lines in motor, home, life, and health insurance, and investment and retirement solutions.

Aviva offers insurance, investment and retirement products and services to more than 33 million clients globally. Aviva has offices spread across a dozen countries which include insuranc hotbeds of China, UK and Canada and have more than 31,000 staff.

Aviva operates five business divisions, namely:

  • General insurance: products designed to help individuals and businesses protect their assets are offered by this unit. These solutions include home, car, pet, travel, flood, and cyber insurance.
  • UK Life: equity releases, annuities, health, and protection products are provided for individuals and businesses aimed at helping them support the physical, mental, and financial health of their employees.
  • Europe Life: Europe Life offers investment, insurance savings, and protection products for individuals who want. To plan for their future and protect themselves from sudden and unexpected events.
  • Asia Life: products and services aimed at delivering growth and generating positive cash flows for clients who want to meet their insurance and saving needs.
  • Investments, savings, and retirement:Global assets managers and investors are brought together with it’s modern UK workplace and platform savings business to enable clients to save enough for their retirement. It is the first of its kind combined savings and retirement business in the UK.

Admiral Group

Admiral group

Admiral group is located in Cardiff, Wales with a market cap of $7.99 billion (£6.62 billion)  with business lines of car, home, and travel insurance.

UK largest car insurance is the Admiral Group accounting for 14% of the country’s overall market share. Admiral group underwrite a policies through jta several brands which includes:





Admiral’s comprehensive car plan is love by clients which offers UK drivers the greatest protection, including cover for their windshields, stereo, and child car seats, as well as a replacement for vehicles less than a year old.

Admiral group also recently launched the Admiral virtual assistant, also known as AVA, which is an online tool designed to respond to common concerns and questions from customers. To update their insurance policies, file a claim, and view their policy details using the AVA.

Admiral group also offers travel and home insurance as well. It has a strong staff of more than 11,000 staffs which serves more than seven million customers globally. Aside the UK, Admiral has offices in France, India, Canada, Mexico, Spain, Turkey, and the US.