In its simplest terms the insurance industry can be broken down into two main categories, life and non-life. In 2016, insurance premiums written by the UK insurance sector amounted to 168.9 billion euros for life insurance. Europe as a whole had total premiums written for life insurance of under 700 billion euros. The UK saw a further 82 billion euros in non-life insurance premiums written, the second highest of any country in Europe behind Germany. The insurance market in the United Kingdom is such a titan that by the end of 2016 its market share was over one fifth of the entire European industry.
It may be no surprise that the leading companies participating in Europe's insurance industry were yet again found in the United Kingdom. Five of the top ten life and insurance companies in Europe reside in the UK with Prudential leading the pack with a market value of almost 54 billion U.S dollars. In 2016 the top three of the UK's insurance giants all had total assets exceeding 440 billion British pounds.