This report focuses on the year-end 2025 solvency and financial condition reports (SFCRs) published in July 2026. The SFCRs contain a significant amount of information on each of the insurance companies, such as details on business performance, risk profile, and balance sheet and capital position. Insurers are also required to publish a great deal of quantitative information in the public quantitative reporting templates (QRTs) included within the SFCRs. Our analysis is based on a sample of insurers that are primarily focused on selling life insurance, with some composite companies excluded. Reinsurers have been included when their business has been deemed predominantly life reinsurance.
Of particular relevance for this report are the differences between the Solvency II and Solvency UK QRTs. The Solvency II Directive was formally amended in January 2025, setting out the high-level framework for reforms that will apply across the European Union. Since January 2021, the UK insurance market has been regulated solely by the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA). The PRA and the UK government have therefore been able to design their own regulatory framework, known as Solvency UK, which has led to divergence from Solvency II.
Topline points:
- Our analysis of the European and UK life insurance market covers 654 companies from 32 countries and three territories.
- The group represents approximately £899 billion (€1.030 trillion) of gross written premiums, up 16% from 2024, supported by data published by the European Insurance and Occupational Pensions Authority, and reflecting a continued upward trend in life insurance premiums observed over the past few years.
- Companies had £8.187 trillion (€9.383 trillion) of gross technical provisions, up 12%.