The ABI collects extensive data from insurers & long term savings providers, covering everything from motor and property insurance to life assurance and pensions. The data is available to members for free as a benefit of their membership while non-members can access data upon payment of a subscription fee.
The UK insurance and long term savings provider industry:
- Is the largest in Europe, and third largest in the world. It manages investments of £1.9trn (equivalent to 25% of the UK’s total net worth).
- Contributed £29bn to UK GDP in 2012, which equates to more than a fifth of the total value added for the financial services industry.
- Employs around 334,000 people – 114,300 of which are directly employed by insurance & long term savings provider companies and 219,700 are employed in auxiliary services to insurance and pension funding; such as broking and 3rd party services.
Funds managed by insurance & long term savings providers, by asset class
- At the end of 2014, £1.9trn of assets was held by insurers & long term savings providers, of which £1.8trn was held by long term savings providers.
- UK equity holdings have decreased by 12 percentage points over the past 10 years.
- Unit trust holdings have increased by 11 percentage points.