HCC International has been named the best insurer in UKGI after our analysis of the Solvency and Financial Condition Reports for insurers across the whole of the UK non-life insurance market.
The insurer earned an Underwriting Rating of 84%, securing an Insurance DataLab Gold Award for the first time and jumping an impressive 15 percentage points from last year’s score of 69%.
Based on our proprietary formula, devised specifically for this research, Insurance DataLab rates insurers across three key pillars – combined operating ratio (COR), three-year aggregate COR, and improvement in the COR over the last 12 months – with the top performers all receiving an Insurance DataLab Gold Award.
HCC International is joined on the list of top performers by Convex (81%), Starr International – the only insurer to have won a Gold Award in each of the last three years (79%), Markel International (77%), Ageas Insurance (75%), and Arch, Ecclesiastical, and Admiral (UK) (all on 72%).
Performance Improves Year-on-Year
Overall performance has improved over the last 12 months, with the average Underwriting Rating rising by three percentage points to 69%, up from 66% last year and 64% in 2023.
This improvement was driven by a six-percentage point improvement in the COR Improvement Rating, which grew to 65% from 59% the previous year as UK insurers marked a welcome return to underwriting profitability – with a market aggregate COR of 96.6% v 102.1% last year.
Meet the Best UK Insurers
- HCC International – 84%
- Convex – 81%
- Starr International – 79%
- Markel International – 77%
- Ageas Insurance – 75%
- Arch – 72%
- Ecclesiastical – 72%
- Admiral (UK) – 72%
Results for each insurer in UKGI – as well as for Gibraltarian insurers – will be on our market intelligence platform later this week, with scores also broken down by business line. You can request a demo here.
Further analysis is also available in the Insurance Times Top 50 Insurers, for which Insurance DataLab is the data provider.
If you are one of this year’s Gold Award winners and would like a license to use this independent endorsement, contact Dan King.