Total UK Motor Insurance premiums written in the United Kingdom approx £16 bn. While over a 1000 companies sell car insurance in the UK, the 10 largest auto insurers make up around 70.5% of the UK car insurance market or £11.3 bn of insurance premiums.
Admiral Group, which includes Admiral, Bell, Diamond, elephant.co.uk, Veygo, and Gladiator, had the highest market share at 14%. This was followed by Direct Line Group at 10.8% market share. After Germany and France, the UK is the third biggest motor insurance market in Europe.
These companies also control 85% of the market. But despite the auto insurance market being dominated by only a handful of leading industry players, the products, services, and benefits these firms provide vary significantly.
TOP 10 UK Car Insurers 2023
| № | Car Insurers | Gross Premiums Written, £ mn | Market Share, % |
|---|---|---|---|
| 1 | Admiral Group | 2,237 | 14.0% |
| 2 | Direct Line Group | 1,730 | 10.8% |
| 3 | Aviva | 1,677 | 10.5% |
| 4 | Hastings | 1,112 | 7.0% |
| 5 | AXA | 969 | 6.1% |
| 6 | LV= | 932 | 5.8% |
| 7 | esure | 679 | 4.2% |
| 8 | RSA | 661 | 4.1% |
| 9 | Ageas | 654 | 4.1% |
| 10 | NFU Mutual | 626 | 3.9% |
To identify the leading car insurance providers in the UK, NimbleFins compiled data on each company’s GWP by sifting through SFRC regulatory reports, press releases, annual financial statements, and risk management reports. The website also gathered financial strength ratings from Fitch, Moody’s, and Standard & Poor’s (S&P) and looked at complaints data from the Financial Conduct Authority (FCA) and Financial Ombudsman Service (FOS).
Best car insurance for cheaper rates
The average motor insurance premium rose by nearly 8% during the 2023, to hit £786, according to recent analysis by research firm Consumer Intelligence. This makes it even more important to shop around. The cheapest policy for one driver might not be cheapest for another, because insurers price risk in different ways (risk is calculated using your driving history and personal details). But some providers tend to offer good rates.
UK’s favourite car brands
| № | Car brand in UK | % of registered vehicles in the UK |
| 1 | Volkswagen | 8.92 |
| 2 | Audi | 7.10 |
| 3 | BMW | 7.03 |
| 4 | Ford | 6.98 |
| 5 | Toyota | 6.47 |
| 6 | Mercedes | 5.96 |
| 7 | Vauxhall | 5.51 |
| 8 | Kia | 5.40 |
| 9 | Nissan | 4.30 |
| 10 | Hyundai | 4.11 |
| 11 | Peugeot | 3.60 |
| 12 | Škoda | 3.31 |
| 13 | Land Rover | 3.25 |
| 14 | Volvo | 2.94 |
| 15 | Mini | 2.76 |
