Of the insurance firms currently active in the UK , 40% were incorporated this century , according to analysis by home insurer Policy Expert. Furthermore, 40% of life and non-life insurers have been established over 100 years , with the average age of UK insurers just 16 years . A total of 216 new firms were registered in just 16 years , pushing newer firms to outnumber incumbents two -to-one. The growth of start-ups is being driven by technological developments, with industry players trying to balance innovation and scale, said Policy Expert. Its study of Companies House data shows two in five (40%) insurance businesses in the life and non-life insurance sectors have emerged in less than a decade since 2010. The research also noted almost 60 insurance corporations which have been active for since 2010 .
Of the insurance firms currently active in the UK , 40% were incorporated this century , according to analysis by home insurer Policy Expert. Furthermore, 40% of life and non-life insurers have been established over 100 years , with the average age of UK insurers just 16 years . A total of 216 new firms were registered in just 16 years , pushing newer firms to outnumber incumbents two -to-one. The growth of start-ups is being driven by technological developments, with industry players trying to balance innovation and scale, said Policy Expert. The research also noted almost 60 insurance corporations which have been active for since 2010 .