General Insurance

2023 Salary & Benefits Guide for General Insurance

Welcome to the Salary & Benefits Guide for General Insurance. This Salary Guide intends to provide insight and guidance into salary trends across the General Insurance industry, from Broking through to Claims and Risk Management across the UK.

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Key Findings - 2023 Salary Guide

Salaries in General Insurance have been in a state of flux for the past few years. As competition for talent and cost-of-living soars, so does ever-increasing salary expectations throughout the industry. This has perhaps been made even harder due to the broadening skills gap, which has been magnified due to Brexit, the pandemic and an ageing General Insurance workforce.

  • Broking

    Find out the remuneration packages and salary brackets for those in Insurance Broking across the UK.

  • Insurer / MGA

    Find out the remuneration packages and salary brackets for those in Insurers & MGAs across the UK.

  • Change & Compliance

    Find out the remuneration packages and salary brackets for those working in Change, Risk & Compliance across the UK.

  • Claims

    Find out the remuneration packages and salary brackets for those working in Claims Handling and Claims Management across the UK.

  • Executive & Operations

    Find out the remuneration packages and salary brackets for those working in Executive & Operations roles across the UK.

Broking

Last year, many leading firms invested heavily in workplace culture and environment, in order to attract and retain hybrid talent. Whilst this effort hasn’t been wasted, it is clear that more needs to be done. 71% of employers ranked recruiting the right staff as their biggest external challenge, and the wider economic environment came a close second (70%). When ranking internal challenges, ‘salary reviews in line with inflation’ was the most popular at 63%, with staff retention coming in second at 62%.

More than half of employees stated they’re looking to change jobs in 2023, and a key driver for this change is the desire for improved work/life balance. 74% of employees prioritised work/life balance over employer brand (20%) when considering a new employer. This can explain why even big name brands are finding it hard to recruit in the current market, especially with larger firms less likely to adopt flexible practices.

With Mergers & Acquisitions (M&A) activity remaining strong in 2022, despite macroeconomic uncertainty, 2023 could be a big year for M&A activity, especially with foreign investment into the UK seeing strong returns within the Insurance sector. As cost-of-living, interest rates, capital gains and dividends tax increases, business owners may look to exit or merge, resulting in an influx of activity across the UK M&A market.

Select a region

  • Manchester & The North of England
  • The Midlands
  • Scotland
  • Home Counties
  • South West
  • City & Lloyd's

Operations

Job TitleExperience
1 - 3 Years4 - 8 Years9+ Years
Risk Analyst£27,000 - £40,000£40,000 - £60,000£60,000 - £80,000
Risk Manager£40,000 - £45,000£45,000 - £55,000£55,000 - £75,000
Project Manager£40,000 - £45,000£45,000 - £55,000£55,000 - £75,000
Operations Manager£40,000 - £50,000£50,000 - £63,000£63,000 - £85,000
Operations Director£55,000 - £65,000£65,000 - £80,000£80,000 - £100,000
Regional Director£65,000 - £95,000£100,000+£115,000+
Managing Director£100,000+£125,000+£140,000+

Sales

Servicing

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Our 2023 Salary Guides provide a comprehensive resource for the latest remuneration and recruitment trends affecting the General Insurance services.

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We’ve been providing Business Growth, Talent Management and Recruitment solutions to the General Insurance, Financial Services and Legal sectors since 2006.

Our 2023 Salary & Benefits Guide for General Insurance features extensive survey data and invaluable insights, and provides insight into market sentiment and industry outlooks for the future.