The Financial Conduct Authority (FCA) has published a market overview paper, detailing the structure of the retail protection market.
The paper outlines the roles that insurers, distributors, comparison tools and other institutions play in the market. It showed that the top five insurers accounted for approximately 80% of the total market share across individual protection lines. The market share assigned to the top five insurers varied across product-type. Of the £52 million in whole of life guaranteed acceptance over-50s premiums, 97% sat with the top five insurers. Non-mortgage related life (term assurance) was the most diversified, of the £318m in premiums in the market in 2024, 73% sat with the top five insu...
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