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UK Commercial Property Insurance: Market Dynamics and Opportunities 2025

Publisher GlobalData
Published Feb 09, 2026
Length 37 Pages
SKU # GBDT20911421

Description

UK Commercial Property Insurance: Market Dynamics and Opportunities 2025

Summary

This report analyzes the UK commercial property insurance market, looking at drivers of uptake across different demographics and dwelling types. It discusses the claims landscape in 2024, the commercial property market across London, and relevant regulatory changes. Incumbent competitors are analyzed and compared, along with newcomers and insurtechs operating within this space. Future impactors in the market are also examined, including climate change, sustainability, underinsurance, and the changing office environment.

GlobalData estimates that UK commercial property insurance gross written premium (GWP) rose by 8% in 2025, reaching GBP15.68 billion. This growth was largely fueled by higher repair and rebuild costs, as well as continued rate hardening across the market. In 2024, GWP rose by 7.8% to GBP14.52 billion, reflecting elevated premium levels amid persistent inflation and ongoing supply chain bottlenecks that drove up construction and reinstatement expenses. While overall claims notifications fell by 6.7% in 2024, weather-related claims bucked this trend, rising by 21.5%.

Scope
  • Gross claims incurred fell by 7.93% in 2024, driven by a significant 24.19% decrease in business interruption claims.
  • The 6.7% drop in claims notified was driven by a 32.1% fall in commercial subsidence claims.
  • Aviva is the market leader, accounting for a 10.8% share of GWP in 2024.
Reasons to Buy
  • Analyze drivers of growth within the UK commercial property insurance market.
  • Determine areas of concern for insurers and the wider market, including in the claims landscape.
  • Recognize the impact of inflation and the cost-of-living crisis on the market.
  • Discover the market shares held by leading commercial property insurance players.
  • Examine future opportunities and challenges within the market.

Table of Contents

37 Pages
1. Executive Summary
1.1 Market overview
1.2 Key findings
1.3 Critical success factors
2. Market Dynamics
2.1 Commercial property posted strong 2024 growth
GWP rose by 7.8% in 2024, reaching GBP14.52 billion
2.2 Gross claims paid rose despite fewer claims
2.3 The construction industry was set to rise in 2025
New construction activity fell in 2024
2.4 London investment activity was set to rise in 2025
2.5 Tax incentives have helped drive investments
2.6 Commercial-to-residential conversions are key
3. Competitor Dynamics
3.1 Aviva continues to lead the market
Allianz partnered with Evoque Group
MGA Ventis expanded its policy offerings
Intact (formerly RSA) launched e-trading products
Monteith introduced a specialist commercial property facility
FUW Insurance launched FUW Commercial
3.2 Insurtech innovations and further developments
Verisk launched Property Claims Carbon Calculator
MGA Aurora launched property owners’ insurance
4. The Market Going Forward
4.1 GWP will reach GBP20.65 billion in 2029
4.2 The impact of inflation and high interest rates
Volatile material and labor costs pose challenges
4.3 Terrorism risks create commercial opportunities
UK businesses must adopt public protection measures
4.4 Climate change is having a growing impact
Extreme weather is the top industry risk
4.5 The underinsurance gap remains
4.6 The impact of changing working models
4.7 Focus on sustainable materials underwriting
4.8 AI will revolutionize the insurance value chain
4.9 Emerging technologies can streamline claims
Drones are shortening claims processing times
Computer vision enhances insurers’ claims capabilities
5. Appendix
5.1 Abbreviations, acronyms, and initialisms
5.2 Methodology
GlobalData’s UK Top 25 General Insurance Competitor Analytics
GlobalData’s UK Insurance Consumer Survey
GlobalData’s 2025 UK SME Insurance Survey
Forecasting methodology
5.3 Secondary sources
5.4 Further reading
6. About GlobalData
7. Contact Us
List of Tables
Table 1: UK commercial property insurance GWP and growth rate, 2020–24
Table 2: Gross claims paid by type (GBP million), 2020–24
Table 3: Number of claims notified (000s), by type, 2020–24
Table 4: UK commercial construction output, 2024–29f
Table 5: Construction output, non-seasonally adjusted, current prices by sector (GBP million), 2020–24
Table 6: Competitor market shares and GWP, 2022–24
List of Figures
Figure 1: The UK commercial property insurance market grew by 7.8% in 2024
Figure 2: Overall gross claims paid increased by 16.6% in 2024
Figure 3: The number of claims fell by 6.7% in 2024
Figure 4: Commercial construction output is forecast to maintain growth
Figure 5: BTL mortgages accounted for 9.2% of total mortgage lending in Q2 2025
Figure 6: The UK population rose by 1.5% in 2024
Figure 7: Aviva remains the leading commercial property insurer
Figure 8: GWP is forecast to grow up to 2029, when it will reach GBP20.65 billion
Figure 9: Over half of SMEs face higher premiums for the same or less cover
Figure 10: Over half of employees do not anticipate returning to full-time office work as of 2024
Figure 11: 77.9% of individuals typically spent three days or fewer in the office
Figure 12: 68% of SMEs view an insurer’s record on sustainability as important or very important
Figure 13: Underwriting and risk profiling will be most positively impacted by AI
Figure 14: Larger firms are most comfortable using AI-powered chatbots
Figure 15: Forecasting methodology

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