The UK insurance market combines a regulated retail market with a deep wholesale and reinsurance layer. Understanding the structure explains why your premium moves and who is ultimately responsible when a claim is paid.
Retail and commercial insurers
At the front are the insurers and Lloyd’s syndicates that sell cover to households and businesses, directly or through brokers. They price risk, hold capital, and pay claims. Our explainer on who does what in insurance sets out the roles.
Brokers and intermediaries
Brokers and comparison platforms distribute much of the cover, advising customers and placing risk. Their commission and conflicts are regulated, and our guide to complaining covers recourse if advice is wrong.
Reinsurance and capital
Behind the insurers, reinsurers spread risk globally and investors provide capital through instruments such as catastrophe bonds. This layer absorbs large losses and stabilises the market after disasters. The Prudential Regulation Authority oversees insurer solvency so firms can pay claims.
Regulation
The FCA and PRA set the rules for conduct and solvency, and the Financial Ombudsman resolves disputes. Our regulation coverage follows how these decisions reach customers.