Analysis: Mutual benefits
With four mutuals making the UK top 20 insurers rankings for 2017 and results outperforming the rest of the market, mutuality is a sector to watch, especially as it is easier to innovate without constant shareholder pressure
There are around 100 mutual insurers in the UK, worth around £19.6bn in premium income, which represents 8.7% of the market. Four of them appear in the UK top 20 insurers – namely NFU Mutual, LV
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Insurers continue to face the challenge of distinguishing and differentiating themselves on anything other than being among the cheapest providers.