The insurance business - The insurance companies

By far the largest proportion of insurance business is done by the insurance companies, which divide their business broadly into life and nonlife.

At the end of 2016, close to 2900 companies were authorized by the governments Department of Trade to carry on insurance business in the United Kingdom.

Not all of them are British: some have parent companies abroad. Their activities are closely regulated by government under a series of rules.

Many UK insurers are the giants in the industry and, as the table shows, the Prudential Assurance Company is far larger than any of its rivals. Companies originally tended to specialize to some extent in either life or other insurance business, but as they, and the business, have grown, most have developed other aspects of insurance. As a result, many companies appear in both the life and the non-life insurance list.

These big companies are responsible for the bulk of insurance in the United Kingdom, but there are literally hundreds of other companies which are reliable and offer a wide variety of services which are not always available from the major groups, who take most of the ordinary business. If you are worried about the standing of a particular insurance company, check to see if it is a member of the British Insurance Association, which sets down standards of behaviour for its members.


The insurance companies

Payroll Giving
It’s all very easy to organise.
Just ask the Personnel or the Payroll Department at your company and, if they already have a scheme, they will give you the relevant forms.  HM Revenue & Customs’ website has a list of Payroll Giving agencies and explains payroll giving in more detail.

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read on: The insurance business - Insurance companies fall into three types

By far the largest proportion of insurance business is done by the insurance companies, which divide their business broadly into life and nonlife.

At the end of 2016, close to 2900 companies were authorized by the governments Department of Trade to carry on insurance business in the United Kingdom.

Not all of them are British: some have parent companies abroad. Their activities are closely regulated by government under a series of rules.

Many UK insurers are the giants in the industry and, as the table shows, the Prudential Assurance Company is far larger than... see: The insurance business - Insurance companies fall into three types