Insurtech motor insurance provider Prima has posted premium income of approximately £1.1bn for 2024, a rise of 47% on the previous year. Beyond the firm’s main market of Italy, it operates in Spain and the UK. Prima UK achieved £28.1m in premiums in 2024, up from £18.2m in 2023. The firm said it expected to double UK premium income in 2025.

Nick Ielpo, country manager of Prima UK, said: “Our performance in Italy showcases our ability to generate profits and continue to expand our customer base, coupled with our growth in the UK and Spain, which demonstrates our ability to scale internationally as well.

“We have confirmed ourselves as a strong and reliable organisation, with a loss ratio to group premiums of 70% in 2024.”

The firm launched in Italy in 2015, and provides car insurance, both online and through its network of agents and brokers.