GlobalData has forecast that direct written premiums in the UK general insurance market will rise from £92.9bn in 2025 and increase at a compound annual growth rate of 5% to reach £113bn in 2029. It said the CAGR over the period would be 2.4% in the motor market, while the liability sector would see a CAGR of 7.4%.

Swarup Kumar Sahoo, senior insurance analyst at GlobalData, said: “The UK general insurance industry is navigating change, driven by evolving consumer behaviours, climate challenges, regulatory changes, competition, and price sensitivity. Overall, the sector anticipates steady growth but must adapt to emerging risks and consumer demands.”

He added: “The outlook for the UK general insurance market remains positive, with growth driven by regulatory change and evolving consumer needs. Insurers must remain agile and innovative to navigate the challenges posed by climate change and economic pressure. However, the increased Ogden rate is a welcome development for general insurers.”