Revealed – the best insurers in the UK and Gibraltar

Top firm gets 92% rating

Revealed – the best insurers in the UK and Gibraltar

Business Resilience

By Terry Gangcuangco

Insurance DataLab, which rates every UK and Gibraltar-regulated insurer across three key metrics to assess underwriting performance, has named the best insurers in the UK and Gibraltar.

According to the market intelligence platform’s 2023 Underwriting Ratings, below are the gold award winners.

  • FM Insurance – 92%
  • SCOR UK – 87%
  • Arch (UK) – 83%
  • Starr International (Europe) – 83%
  • Berkshire Hathaway International – 79%
  • International General Insurance Company (UK) – 75%
  • Fidelis Underwriting – 74%

Gibraltar

  • Nelson – 78%
  • Acasta European Insurance – 72%
  • WDP Insurance – 71%
  • Argus Insurance (Europe) – 71%

The metrics used by the benchmarking firm are combined operating ratio (COR), aggregate COR over the last three years, and the improvement in COR for the most recent year.

“Insurers have faced a challenging time of late, with rampant claims inflation, increasing levels of regulation, and a difficult economic landscape creating a perfect storm,” Insurance DataLab co-founder Dan King said in an emailed release.

“In such a tough market, we’re delighted to recognise these top achievers. Each of our gold award winners have demonstrated expertise in delivering best-in-class underwriting performances, and we would like to congratulate them on their success.”

FM Insurance’s 92% score was an improvement from last year’s 69%, while Nelson’s 78% was a jump from its previous rating of 57%.     

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