The insurance, reinsurance, and pension funding output in the UK is forecasted to increase moderately from 2024 to 2028, starting at 102.63 billion Euros in 2024 and reaching 105.27 billion Euros in 2028. Compared to the 2023 value of 101 billion Euros, this reflects a gradual growth trajectory. The year-on-year growth rates for 2024 to 2028 are anticipated to be in the range of 0.6% to 0.7%, with a compound annual growth rate (CAGR) over the five-year period of approximately 0.8%.
Future trends to watch for:
- The impact of regulatory changes on the sector's operational efficiencies.
- Technological advancements, such as insurtech, potentially influencing premium growth and customer engagement.
- The influence of macroeconomic factors, including inflation and interest rate fluctuations, on pension funding sustainability.
