The number of Part VII transfers of insurance businesses for 2022

Freedom of Information rules mean that, as a public authority, the Bank of England is obliged to disclose certain types of information, both proactively and on request.

Date: 7 March 2024

Disclosure:

The table below sets out the total gross written premiums for the following insurance types for 2022.

Insurance Category

Line of Business

Total

Medical Expense Insurance

£7,175,650,763

Income Protection Insurance

£1,104,057,365

Motor

Motor Vehicle Liability Insurance and Other Motor Insurance – personal lines

£10,504,415,318

Motor

Motor Vehicle Liability Insurance and Other Motor Insurance – non personal lines

£4,853,650,033

Property

Fire and other damage to property insurance – personal lines

£9,423,458,203

Property

Fire and other damage to property insurance – non personal lines

£22,174,387,614

General Liability

Employers Liability

£2,159,254,660

General Liability

Professional Indemnity

£11,491,208,320

General Liability

Public and Products Liability

£6,899,171,920

General Liability

Other General Liability

£3,022,437,582

Credit and Suretyship Insurance

£1,809,737,257

Legal Expenses Insurance

£556,474,568

Miscellaneous Financial Loss

£3,308,658,974

The table below sets out how the premiums are split across the different types of distribution channels:

Line of Business

Distribution Channel

Total

Motor Vehicle Liability – personal

Direct Distribution/ Open Market/ Price Comparison Website

£5,037,548,898

Broker / Intermediary

£4,618,135,497