’It is fantastic to see these companies delivering excellent results,’ says co-founder
Starr International (Europe) has been named as the best insurer in UK general insurance (UKGI) by market intelligence firm Insurance DataLab.
The firm secured an underwriting rating of 79% following an analysis of the solvency and financial condition reports for insurers across the UK non-life insurance market.
It is the first time Starr International (Europe) has secured top spot in Insurance DataLab’s research.
The business was also one of seven UK-regulated insurers to receive an underwriting gold award for 2024.
Those joining it on the list include Hiscox (73%), Sabre (71%), Allianz (71%), Ecclesiastical (71%), Axa XL UK (71%) and Admiral UK (71%).
Insurance DataLab co-founder Matt Scott said: “It’s fantastic to see Starr International (Europe) leading the way in underwriting excellence.
“Its consistent performance in a highly competitive market sets it apart and highlights its commitment to delivering strong underwriting results.
“We would also like to congratulate our other gold award winners on their achievements.”
Overall performance
Insurance DataLab rates insurers across three pillars – combined operating ratio (COR), three-year aggregate COR and improvement in COR over the last 12 months.
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Overall performance across the market has improved over the last year, with the average underwriting rating rising by three percentage points to 67%.
This improvement was driven by a nine percentage point improvement in the three-year aggregate COR rating, which grew to 77% from 68% the previous year.
Scott said: “The UK insurance market continues to face significant headwinds, so it is fantastic to see these companies delivering excellent results despite these challenges.”
For further analysis of these results, check out Insurance Times’ Top 50 Insurers 2024 report.
His career began in 2019, when he joined a local north London newspaper after graduating from the University of Sheffield with a first-class honours degree in journalism.
He took up the position of deputy news editor at Insurance Times in March 2023, before being promoted to his current role in May 2024.View full Profile
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